Form 10-Q

0001193125-12-211927.txt : 20120504 0001193125-12-211927.hdr.sgml : 20120504 20120504160931 ACCESSION NUMBER: 0001193125-12-211927 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 10 CONFORMED PERIOD OF REPORT: 20120331 FILED AS OF DATE: 20120504 DATE AS OF CHANGE: 20120504 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LIFETIME BRANDS, INC CENTRAL INDEX KEY: 0000874396 STANDARD INDUSTRIAL CLASSIFICATION: CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420] IRS NUMBER: 112682486 STATE OF INCORPORATION: DE FISCAL YEAR END: 1207 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-19254 FILM NUMBER: 12814398 BUSINESS ADDRESS: STREET 1: 1000 STEWART AVENUE CITY: GARDEN CITY STATE: NY ZIP: 11530 BUSINESS PHONE: 5166836000 MAIL ADDRESS: STREET 1: 1000 STEWART AVENUE STREET 2: 1000 STEWART AVENUE CITY: GARDEN CITY STATE: NY ZIP: 11530 FORMER COMPANY: FORMER CONFORMED NAME: LIFETIME HOAN CORP DATE OF NAME CHANGE: 19930328 10-Q 1 d333374d10q.htm FORM 10-Q Form 10-Q

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 March 31, 2012

¨	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: 0-19254

LIFETIME BRANDS, INC.

(Exact name of registrant as specified in its charter)

Delaware

11-2682486

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer

Identification No.)

1000 Stewart Avenue, Garden City, New York, 11530

(Address of principal executive offices) (Zip Code)

(516) 683-6000

(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 reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer	¨		Accelerated filer	x

Non-accelerated filer	¨	(Do not check if a smaller reporting company)	Smaller reporting company	¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No x

The number of shares of the registrant’s common stock outstanding as of May 4, 2012 was 12,438,393.

LIFETIME BRANDS, INC.

FORM 10-Q

FOR THE QUARTER ENDED MARCH 31, 2012

INDEX


		Page No.

Part I.	Financial Information

Item 1.	Financial Statements

	Condensed Consolidated Balance Sheets – March 31, 2012 (unaudited) and December 31, 2011		2

	Unaudited Condensed Consolidated Statements of Operations – Three Months Ended March 31, 2012 and 2011		3

	Unaudited Condensed Consolidated Statements of Comprehensive Income – Three Months Ended March 31, 2012 and 2011		4

	Unaudited Condensed Consolidated Statements of Cash Flows – Three Months Ended March 31, 2012 and 2011		5

	Notes to Unaudited Condensed Consolidated Financial Statements		6

	Report of Independent Registered Public Accounting Firm		14

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		15

Item 3.	Quantitative and Qualitative Disclosures About Market Risk		21

Item 4.	Controls and Procedures		21

Part II.	Other Information

Item 1.	Legal Proceedings		22

Item 1A.	Risk Factors		22

Item 6.	Exhibits		23

Signatures			24

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

LIFETIME BRANDS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except per share data)

(unaudited)


	March 31, 2012			December 31, 2011
	(unaudited)
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	4,867		$	2,972
Accounts receivable, less allowances of $5,051 at March 31, 2012 and $4,602 at December 31, 2011		72,902			77,749
Inventory (Note A)		113,653			110,337
Prepaid expenses and other current assets		5,286			5,264
Income taxes receivable (Note G)		327			—
Deferred income taxes (Note G)		2,568			2,475

TOTAL CURRENT ASSETS		199,603			198,797

PROPERTY AND EQUIPMENT, net		33,025			34,324
INVESTMENTS (Note B)		36,380			34,515
INTANGIBLE ASSETS, net (Note C)		46,537			46,937
OTHER ASSETS		3,742			4,172

TOTAL ASSETS	$	319,287		$	318,745

LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Revolving Credit Facility (Note D)	$	15,000		$	15,000
Accounts payable		23,534			18,985
Accrued expenses		29,562			33,877
Income taxes payable (Note G)		70			2,100

TOTAL CURRENT LIABILITIES		68,166			69,962

DEFERRED RENT & OTHER LONG-TERM LIABILITIES		14,450			14,598
DEFERRED INCOME TAXES (Note G)		5,427			5,385
REVOLVING CREDIT FACILITY (Note D)		41,545			42,625
TERM LOAN (Note D)		40,000			40,000

STOCKHOLDERS’ EQUITY
Preferred stock, $.01 par value, shares authorized: 100 shares of Series A and 2,000,000 shares of Series B; none issued and outstanding		—			—
Common stock, $.01 par value, shares authorized: 25,000,000; shares issued and outstanding: 12,438,393 at March 31, 2012 and 12,430,893 at December 31, 2011		124			124
Paid-in capital		138,186			137,467
Retained earnings		15,189			14,465
Accumulated other comprehensive loss		(3,800	)		(5,881	)

TOTAL STOCKHOLDERS’ EQUITY		149,699			146,175

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	319,287		$	318,745

See accompanying independent registered public accounting firm review report and notes to unaudited condensed consolidated financial statements.

-2-

LIFETIME BRANDS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

(unaudited)


	Three Months Ended March 31,
	2012			2011
Net sales	$	109,041		$	91,773
Cost of sales		68,581			58,383

Gross margin		40,460			33,390
Distribution expenses		11,744			10,940
Selling, general and administrative expenses		25,484			22,473

Income (loss) from operations		3,232			(23	)
Interest expense (Note D)		(1,698	)		(1,979	)

Income (loss) before income taxes and equity in earnings		1,534			(2,002	)
Income tax (provision) benefit (Note G)		(588	)		588
Equity in earnings, net of taxes (Note B)		398			465

NET INCOME (LOSS)	$	1,344		$	(949	)

BASIC INCOME (LOSS) PER COMMON SHARE (NOTE F)	$	0.11		$	(0.08	)

DILUTED INCOME (LOSS) PER COMMON SHARE (NOTE F)	$	0.11		$	(0.08	)

Cash dividends declared per common stock	$	0.050		$	0.025

See accompanying independent registered public accounting firm review report and notes to unaudited condensed consolidated financial statements.

-3-

LIFETIME BRANDS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In thousands)

(unaudited)


	Three Months Ended March 31,
	2012		2011
Net income (loss)	$	1,344	$	(949	)
Translation adjustment		2,081		1,225

Comprehensive income	$	3,425	$	276

See accompanying independent registered public accounting firm review report and notes to unaudited condensed consolidated financial statements.

-4-

LIFETIME BRANDS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(unaudited)


	Three Months Ended March 31,
	2012			2011
OPERATING ACTIVITIES
Net income (loss)	$	1,344		$	(949	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Provision for doubtful accounts		(25	)		(16	)
Depreciation and amortization		2,207			1,995
Amortization of debt discount		—			229
Deferred rent		(84	)		(3	)
Stock compensation expense		698			748
Undistributed equity earnings		(398	)		(465	)
Changes in operating assets and liabilities (excluding the effects of business acquisitions)
Accounts receivable		4,872			11,847
Inventory		(3,316	)		(3,969	)
Prepaid expenses, other current assets and other assets		410			(52	)
Accounts payable, accrued expenses and other liabilities		(55	)		(7,242	)
Income taxes receivable		—			(745	)
Income taxes payable		(2,356	)		(5,036	)

NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES		3,297			(3,658	)

INVESTING ACTIVITIES
Purchases of property and equipment		(475	)		(1,047	)

NET CASH USED IN INVESTING ACTIVITIES		(475	)		(1,047	)

FINANCING ACTIVITIES
Proceeds (repayments) of bank borrowings, net		(1,080	)		2,900
Proceeds from the exercise of stock options		22			9
Excess tax benefits from exercise of stock options		—			6
Payment of capital lease obligations		—			(27	)
Cash dividend paid		(311	)		—

NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES		(1,369	)		2,888

Effect of foreign exchange on cash		442			—
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		1,895			(1,817	)
Cash and cash equivalents at beginning of year		2,972			3,351

CASH AND CASH EQUIVALENTS AT END OF YEAR	$	4,867		$	1,534

See accompanying independent registered public accounting firm review report and notes to unaudited condensed consolidated financial statements.

-5-

LIFETIME BRANDS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2012

(unaudited)

NOTE A — BASIS OF PRESENTATION AND SUMMARY ACCOUNTING POLICIES

Organization and business

Lifetime Brands, Inc. (the “Company”) designs, sources and sells branded kitchenware, tabletop and other products used in the home and markets its products under a number of brand names and trademarks, which are either owned or licensed. The Company markets and sells its products principally on a wholesale basis to retailers. The Company also markets and sells a limited selection of its products directly to the consumer through its Pfaltzgraff^®, Mikasa^®, Lifetime Sterling™ and Housewares Deals™ Internet websites.

Basis of presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. 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 U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments, consisting only of normal recurring accruals, considered necessary for a fair presentation have been included. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011. Operating results for the three month period ended March 31, 2012 are not necessarily indicative of the results that may be expected for the year ending December 31, 2012.

The Company’s business and working capital needs are highly seasonal, with a majority of sales occurring in the third and fourth quarters. In 2011 and 2010, net sales for the third and fourth quarters accounted for 59% and 60% of total annual net sales, respectively. In anticipation of the pre-holiday shipping season, inventory levels increase primarily in the June through October time period.

Revenue recognition

The Company sells products wholesale, to retailers and distributors, and retail, directly to the consumer. Wholesale sales and retail sales are recognized when title passes to the customer, which is primarily at the shipping point for wholesale sales and upon delivery to the customer for retail sales. Shipping and handling fees that are billed to customers in sales transactions are included in net sales and amounted to $353,000 and $455,000 for the three months ended March 31, 2012 and 2011, respectively. Net sales exclude taxes that are collected from customers and remitted to the taxing authorities.

The Company offers various sales incentives and promotional programs to its customers from time to time in the normal course of business. These incentives and promotions typically include arrangements such as cooperative advertising, buydowns, volume rebates and discounts. These arrangements and an estimate of sales returns are reflected as reductions in net sales in the Company’s condensed consolidated statements of operations.

Cost of sales

Cost of sales consist primarily of costs associated with the production and procurement of product, inbound freight costs, purchasing costs, royalties and other product procurement related charges.

Distribution expenses

Distribution expenses consist primarily of warehousing expenses, handling costs of products sold and freight-out expenses.

-6-

LIFETIME BRANDS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2012

(unaudited)

NOTE A — BASIS OF PRESENTATION AND SUMMARY ACCOUNTING POLICIES (continued)

Inventory

Inventory consists principally of finished goods sourced from third-party suppliers. Inventory also includes finished goods, work in process and raw materials related to the Company’s manufacture of sterling silver products. Inventory is priced by the lower of cost (first-in, first-out basis) or market method. The Company estimates the selling price of its inventory on a product by product basis based on the current selling environment. If the estimated selling price is lower than the inventory’s cost, the Company reduces the value of the inventory to its net realizable value.

The components of inventory are as follows:


	March 31, 2012		December 31, 2011
		(in thousands)
Finished goods	$	109,376	$	107,471
Work in process		2,325		1,683
Raw materials		1,952		1,183

Total	$	113,653	$	110,337

Fair value of financial instruments

The Company determined the carrying amounts of cash and cash equivalents, accounts receivable and accounts payable are reasonable estimates of their fair values because of their short-term nature. The Company determined that the carrying amounts of borrowings outstanding under its revolving credit facility and term loan approximate fair value since such borrowings bear interest at variable market rates.

Employee Healthcare

In 2011, the Company commenced self insurance of certain portions of its health insurance plan. The Company maintains an estimated accrual for unpaid claims and claims incurred but not yet reported (“IBNR”). Although management believes that it uses the best information available to estimate IBNR, actual claims may vary significantly from estimated claims.

Adoption of New Accounting Pronouncements

Effective January 1, 2012, the Company adopted Accounting Standard Update (“ASU”) No. 2011-05, Presentation of Comprehensive Income. Under this guidance, an entity has the option to present the total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements in its annual financial statements. In connection with the adoption of this standard, our condensed financial statements include a separate statement of comprehensive income.

Effective January 1, 2012, the Company adopted ASU No. 2011-08, Intangibles—Goodwill and Other (Topic 350): Testing for Goodwill Impairment, which permits an entity to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test described in ASC Topic No. 350, Intangibles – Goodwill and Other. The adoption of this standard did not have a significant impact on our condensed consolidated financial statements.

-7-

LIFETIME BRANDS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2012

(unaudited)

NOTE B —INVESTMENTS

The Company owns a 30% interest in Grupo Vasconia S.A.B. (“Vasconia”). The Company accounts for its investment in Vasconia using the equity method of accounting and records its proportionate share of Vasconia’s net income in the Company’s statement of operations. Accordingly, the Company has recorded its proportionate share of Vasconia’s net income (reduced for amortization expense related to the customer relationships acquired) for the three month periods ended March 31, 2012 and 2011 in the accompanying condensed consolidated statements of operations. The value of the Company’s investment balance has been translated from Mexican Pesos (“MXN”) to U.S. Dollars (“USD”) using the spot rate of MXN 12.78 and MXN 11.89 at March 31, 2012 and 2011, respectively. The Company’s proportionate share of Vasconia’s net income has been translated from MXN to USD using the average exchange rate of MXN 12.98 and MXN 12.09 during the three months ended March 31, 2012 and 2011, respectively. The effect of the translation of the Company’s investment resulted in a increase of the investment of $1.7 million during the three months ended March 31, 2012 and $1.2 million during the three months ended March 31, 2011 (also see Note J). These translation effects are recorded in accumulated other comprehensive loss. Included in prepaid expenses and other current assets at March 31, 2012 and December 31, 2011 are amounts due from Vasconia of $0.3 million and $0.2 million, respectively.

Summarized statement of operations information for Vasconia in USD and MXN is as follows:


	Three Months Ended March 31,
	2012				2011
			(in thousands)
	USD		MXN		USD		MXN
Net Sales	$	28,687	$	372,489	$	28,571	$	345,477
Gross Profit		8,168		106,064		8,083		97,737
Income from operations		3,322		43,134		3,325		40,206
Net Income		1,965		25,511		2,131		25,768

The Company recorded equity in earnings of Vasconia, net of taxes, of $0.5 million for the three months ended March 31, 2012 and 2011.

The Company has a 40% equity interest in GS Internacional S/A (“GSI”), a leading wholesale distributor of branded housewares products in Brazil. During the three month period ended March 31, 2012, the Company recorded equity in losses of GSI of $133,000. Of the $7.6 million consideration payable by the Company with respect to this investment, approximately $2.6 million remained to be paid as of March 31, 2012.

In February 2012, the Company entered into a joint venture to distribute Mikasa^® products in China, for which it expects to make an initial investment of approximately $500,000.

-8-

LIFETIME BRANDS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2012

(unaudited)

NOTE C — INTANGIBLE ASSETS

Intangible assets consist of the following (in thousands):


	March 31, 2012							December 31, 2011
	Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
Goodwill	$	2,673	$	—		$	2,673	$	2,673	$	—		$	2,673
Indefinite-lived intangible assets:
Trade names		19,433		—			19,433		19,433		—			19,433
Finite-lived intangible assets:
Licenses		15,847		(6,757	)		9,090		15,847		(6,641	)		9,206
Trade names		6,116		(1,496	)		4,620		6,116		(1,400	)		4,716
Customer relationships		11,166		(860	)		10,306		11,166		(681	)		10,485
Patents		584		(169	)		415		584		(160	)		424

Total	$	55,819	$	(9,282	)	$	46,537	$	55,819	$	(8,882	)	$	46,937

NOTE D — DEBT

Revolving Credit Facility

The Company has a $150.0 million secured credit agreement (the “Revolving Credit Facility”), maturing on October 28, 2016, with a bank group led by JPMorgan Chase Bank, N.A.

Borrowings under the Revolving Credit Facility bear interest, at the Company’s option, at one of the following rates: (i) the Alternate Base Rate, defined as the greater of the Prime Rate, Federal Funds Rate plus 0.5% or the Adjusted LIBOR rate plus 1.0%, plus a margin of 1.0% to 1.75%, or (ii) the Eurodollar Rate, defined as the Adjusted LIBOR Rate plus a margin of 2.0% to 2.75%. The respective margins are based upon availability. Interest rates on outstanding borrowings at March 31, 2012 ranged from 2.75% to 4.75%. In addition, the Company pays a commitment fee of 0.375% to 0.50% on the unused portion of the Revolving Credit Facility.

At March 31, 2012, the Company had $1.2 million of open letters or credit and $56.5 million of borrowings outstanding under the Revolving Credit Facility. Availability under the Revolving Credit Facility was approximately $72.1 million, or 48%, of the total loan commitment at March 31, 2012.

Pursuant to the provisions of ASC Topic No. 470-10, Short-term Obligations Expected to be Refinanced, at March 31, 2012 and December 31, 2011, the Company classified a portion of the Revolving Credit Facility as a current liability based on the Company’s intent and ability to repay the loan from cash flows from operations which are expected to occur within the year. Repayments and borrowings under the facility can vary significantly from planned levels based on cash flow needs and general economic conditions. The Company expects that it will continue to borrow and repay funds, subject to availability, under the facility based on working capital needs.

Term Loan

The Company has a $40.0 million second lien credit agreement (the “Term Loan”), which matures on June 8, 2015, with Citibank, N.A.

-9-

LIFETIME BRANDS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2012

(unaudited)

NOTE D — DEBT (continued)

The Term Loan bears interest, at the Company’s option, at one of the following rates: (i) the Alternate Base Rate, defined as the greater of the corporate rate published by the lender and the Federal Funds Rate plus 0.50% provided that such calculated rate is a minimum of 2.50%, plus a margin of 7.50%, or (ii) the Adjusted LIBOR rate which shall be a minimum of 1.50%, plus a margin of 8.50%. The interest rate on the outstanding borrowings at March 31, 2012 was 10.0%.

The Term Loan requires the Company to have EBITDA, as defined, of not less than $31.0 million for the trailing four fiscal quarters through March 31, 2012 and limits capital expenditures to $8.0 million for 2012. The Company was in compliance with the financial covenants of the Term Loan and Revolving Credit Facility at March 31, 2012.

NOTE E — STOCK COMPENSATION

A summary of the Company’s stock option activity and related information for the three months ended March 31, 2012 is as follows:


	Options			Weighted- average exercise price		Weighted- average remaining contractual life (years)		Aggregate intrinsic value
Options outstanding, January 1, 2012		2,475,750		$	12.62
Grants		—			—
Exercises		(7,500	)		2.99
Cancellations		(200	)		22.46

Options outstanding, March 31, 2012		2,468,050			12.65		6.29	$	6,170,028

Options exercisable, March 31, 2012		1,398,050			14.03		5.13	$	4,089,333

The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value that would have been received by the option holders had all option holders exercised their stock options on March 31, 2012. The intrinsic value is calculated for each in-the-money stock option as the difference between the closing price of the Company’s common stock on March 30, 2012 and the exercise price.

The total intrinsic value of stock options exercised for the three months ended March 31, 2012 and 2011 was $56,889 and $16,990, respectively. The intrinsic value of a stock option that is exercised is calculated at the date of exercise.

The Company recognized stock compensation expense of $698,000 and $748,000 for the three months ended March 31, 2012 and 2011, respectively.

Total unrecognized compensation cost related to unvested stock options at March 31, 2012, before the effect of income taxes, was $3.8 million and is expected to be recognized over a weighted-average period of 1.27 years.

At March 31, 2012, there were 332,676 shares available for awards that could be granted under the Company’s 2000 Long-Term Incentive Plan, as amended. On May 1, 2012, the Company granted stock options to purchase a total of 303,000 shares of common stock with an exercise price of $11.64 per share. The aggregate grant date unrecognized compensation cost of $2.0 million for these options will be recognized over their vesting period of 4 years.

-10-

LIFETIME BRANDS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2012

(unaudited)

NOTE F — INCOME (LOSS) PER COMMON SHARE

Basic income per common share has been computed by dividing net income by the weighted-average number of shares of the Company’s common stock outstanding. Diluted income per common share adjusts net income and basic income per common share for the effect of all potentially dilutive shares of the Company’s common stock. The calculations of basic and diluted income per common share for the three month periods ended March 31, 2012 and 2011 are as follows:


	Three Months Ended March 31,
	2012		2011
	(in thousands, except per share amounts)
Net income (loss) – basic and diluted	$	1,344	$	(949	)

Weighted-average shares outstanding – basic		12,432		12,066
Effect of dilutive securities:
Stock options		333		—

Weighted-average shares outstanding – diluted		12,765		12,066

Basic income (loss) per common share	$	0.11	$	(0.08	)

Diluted income (loss) per common share	$	0.11	$	(0.08	)

The computation of diluted income per common share for the three months ended March 31, 2012 and 2011 excludes options to purchase 1,188,800 shares and 2,366,000 shares, respectively. These shares were excluded due to their antidilutive effects.

NOTE G – INCOME TAXES

As of December 31, 2010, the Company had fully utilized the Federal net operating loss and other credit carryforwards generated in previous years. The Company has generated various state net operating loss carryforwards of $22.0 million that will begin to expire in 2014. The Company has net operating losses in foreign jurisdictions of $2.5 million that will begin to expire in 2016. As of December 31, 2011, management had determined that it was “more likely than not” that its deferred tax assets would be realized and the corresponding valuation allowances were released based on the Company’s ability to utilize deferred tax assets currently and the expected future use of temporary differences in the carryback period. The valuation allowance which remains at March 31, 2012 relates to certain state net operating losses and foreign currency translation adjustments.

The estimated value of the Company’s tax positions at March 31, 2012 is a gross liability of $134,000. If the Company’s tax positions are sustained by the taxing authorities in favor of the Company, the Company’s net liability would be reduced by $134,000, all of which would impact the Company’s tax provision. On a quarterly basis, the Company evaluates its tax positions and revises its estimates accordingly. The Company believes that $134,000 of its tax positions will be resolved within the next twelve months.

The Company has identified the following jurisdictions as “major” tax jurisdictions: U.S. Federal, California, Massachusetts, New Jersey, New York and Pennsylvania. The Company is no longer subject to U.S. Federal income tax examinations for the years prior to 2009. The periods subject to examination for the Company’s major state jurisdictions are the years ended 2007 through 2011.

-11-

LIFETIME BRANDS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2012

(unaudited)

NOTE G – INCOME TAXES (continued)

The Company’s policy for recording interest and penalties is to record such items as a component of income taxes. Interest and penalties were not material to the Company’s financial position, results of operations or cash flows as of and for the three months ended March 31, 2012 and 2011.

NOTE H – BUSINESS SEGMENTS

The Company operates in two reportable business segments; the Wholesale segment, the Company’s primary business, in which the Company designs, markets and distributes products to retailers and distributors, and the Retail Direct segment, in which the Company markets and sells a limited selection of its products directly to consumers through its Pfaltzgraff^®, Mikasa^®, Housewares Deals™ and Lifetime Sterling™ Internet websites.

The Company has segmented its operations to reflect the manner in which management reviews and evaluates the results of its operations. Management evaluates the performance of the Wholesale and Retail Direct segments based on net sales and income (loss) from operations. Such measures give recognition to specifically identifiable operating costs such as cost of sales, distribution expenses and selling, general and administrative expenses. Certain general and administrative expenses, such as senior executive salaries and benefits, stock compensation, director fees and accounting, legal and consulting fees, are not allocated to the specific segments and are reflected as unallocated corporate expenses.


	Three Months Ended March 31,
	2012			2011
	(in thousands)
Net sales
Wholesale	$	103,340		$	84,903
Retail Direct		5,701			6,870

Total net sales	$	109,041		$	91,773

Income (loss) from operations
Wholesale	$	6,160		$	2,914
Retail Direct		(8	)		(104	)
Unallocated corporate expenses		(2,920	)		(2,833	)

Total income (loss) from operations	$	3,232		$	(23	)

Depreciation and amortization
Wholesale	$	(2,150	)	$	(1,975	)
Retail Direct		(57	)		(20	)

Total depreciation and amortization	$	(2,207	)	$	(1,995	)

-12-

LIFETIME BRANDS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2012

(unaudited)

NOTE I — CONTINGENCIES

Wallace Silversmiths de Puerto Rico, Ltd. (“Wallace de Puerto Rico”), a wholly-owned subsidiary of the Company, operates a manufacturing facility in San Germán, Puerto Rico, that is leased from the Puerto Rico Industrial Development Company (“PRIDCO”). In March 2008, the United States Environmental Protection Agency (the “EPA”) announced that the San Germán Ground Water Contamination site in Puerto Rico (the “Site”) had been added to the Superfund National Priorities List due to contamination present in the local drinking water supply.

In May 2008, Wallace de Puerto Rico received from the EPA a Notice of Potential Liability and Request for Information Pursuant to 42 U.S.C. Sections 9607(a) and 9604(e) of the Comprehensive Environmental Response, Compensation, Liability Act. The Company responded to the EPA’s Request for Information on behalf of Wallace de Puerto Rico. In July 2011, Wallace de Puerto Rico received a letter from the EPA requesting access to the property that it leases from PRIDCO and the Company granted such access.

The Company is not aware of any determination by the EPA that any remedial action is warranted for the Site; and, accordingly, is not able to estimate the extent of any possible liability.

The Company is, from time to time, involved in other legal proceedings. The Company believes that other current litigation is routine in nature and incidental to the conduct of the Company’s business, and that none of this litigation, individually or collectively, would have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.

NOTE J — OTHER

Cash dividends

On January 11, 2012, the Board of Directors declared a quarterly dividend of $0.025 payable on February 15, 2012 to shareholders of record on February 1, 2012. On March 6, 2012, the Board of Directors declared a quarterly dividend of $0.025 per share payable on May 15, 2012 to shareholders of record on May 1, 2012. As of March 31, 2012, the Company had accrued $311,000 for the payment of the dividend.

Supplemental cash flow information


	Three Months Ended March 31,
	2012			2011
	(in thousands)
Supplemental disclosure of cash flow information:
Cash paid for interest	$	1,476		$	1,233
Cash paid for taxes		1,760			4,526

Non-cash investing activities:
Translation adjustment	$	(2,081	)	$	(1,225	)

-13-

Report of Independent Registered Public Accounting Firm

To the Board of Directors and Stockholders of Lifetime Brands, Inc:

We have reviewed the condensed consolidated balance sheet of Lifetime Brands, Inc. and Subsidiaries (the “Company”) as of March 31, 2012, and the related condensed consolidated statements of operations, comprehensive income and cash flows for the three month periods ended March 31, 2012 and 2011. These financial statements are the responsibility of the Company’s management.

We conducted our review in accordance with the standards of the Public Company Accounting Oversight Board (United States). A review of interim financial information consists principally of applying analytical procedures and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with the standards of the Public Company Accounting Oversight Board, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material modifications that should be made to the condensed consolidated financial statements referred to above for them to be in conformity with US generally accepted accounting principles.

We have previously audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated balance sheet of the Company as of December 31, 2011 and the related consolidated statements of operations, stockholders’ equity, and cash flows for the year then ended (not presented herein) and in our report dated March 9, 2012, we expressed an unqualified opinion on those consolidated financial statements. The consolidated balance sheet of Grupo Vasconia, S.A.B. and Subsidiaries (a corporation in which the Company has a 30% interest) as of December 31, 2011 and the related consolidated statements of income, shareholders’ equity, and cash flows for the year then ended (not presented herein) were audited by other auditors whose report dated February 29, 2012 expressed an unqualified opinion on those statements, and our opinion, insofar as it relates to the amounts included for Grupo Vasconia, S.A.B and Subsidiaries, is based solely on the report of the other auditors. In the consolidated financial statements, the Company’s investment in Grupo Vasconia, S.A.B. and Subsidiaries is stated at $26.3 million at December 31, 2011 and the Company’s equity in the net income of Grupo Vasconia, S.A.B. and Subsidiaries is stated at $2.9 million for the year then ended.

/s/ ERNST & YOUNG LLP

Jericho, New York

May 4, 2012

-14-

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

This Quarterly Report on Form 10-Q contains “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include information concerning Lifetime Brands, Inc. and its subsidiaries’ (the “Company’s”) plans, objectives, goals, strategies, future events, future revenues, performance, capital expenditures, financing needs and other information that is not historical information. Many of these statements appear, in particular, in Management’s Discussion and Analysis of Financial Condition and Results of Operations. When used in this Quarterly Report on Form 10-Q, the words “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” and “believes” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements, including, without limitation, the Company’s examination of historical operating trends, are based upon the Company’s current expectations and various assumptions. The Company believes there is a reasonable basis for its expectations and assumptions, but there can be no assurance that the Company will realize its expectations or that the Company’s assumptions will prove correct.

There are a number of risks and uncertainties that could cause the Company’s actual results to differ materially from the forward-looking statements contained in this Quarterly Report. Important factors that could cause the Company’s actual results to differ materially from those expressed as forward-looking statements are set forth in the Company’s 2011 Annual Report on Form 10-K in Part I, Item 1A under the heading Risk Factors. Such risks, uncertainties and other important factors include, among others, risks related to:

•

General economic factors and political conditions, including risks related to recent acquisitions and investments;

•

Liquidity;

•

Supply chain;

•

Competition;

•

Customers;

•

Intellectual property;

•

Personnel;

•

Regulatory matters; and

•

Technology.

There may be other factors that may cause the Company’s actual results to differ materially from the forward-looking statements. Except as may be required by law, the Company undertakes no obligation to publicly update or revise forward-looking statements which may be made to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.

-15-

ABOUT THE COMPANY

The Company designs, sources and sells branded kitchenware, tabletop and other products used in the home. The Company’s product categories include two categories of products that people use to prepare, serve and consume foods, Kitchenware (kitchen tools and gadgets, cutlery, cutting boards, bakeware and cookware) and Tabletop (dinnerware, flatware and glassware); and one category, Home Solutions, which comprises other products used in the home (food storage, pantryware, spices and home décor). Net sales of Kitchenware products and Tabletop products accounted for approximately 79% of the Company’s net sales in 2011. Creative Tops, acquired in November 2011, is a UK-based company through which the Company will manage its European business. The Company markets several product lines within each of its product categories and under most of the Company’s brands, primarily targeting moderate to premium price points through every major level of trade. The Company believes it possesses certain competitive advantages based on its brands, its emphasis on innovation and new product development and its sourcing capabilities. The Company owns or licenses a number of the leading brands in its industry including Farberware^®, Mikasa^®, KitchenAid^®, Pfaltzgraff^®, Elements^®, Cuisinart^®, Melannco^® and V&A^®. Historically, the Company’s sales growth has come from expanding product offerings within its product categories, by developing existing brands, acquiring new brands and establishing new product categories. Key factors in the Company’s growth strategy have been the selective use and management of the Company’s brands and the Company’s ability to provide a stream of new products and designs. A significant element of this strategy is the Company’s in-house design and development teams that create new products, packaging and merchandising concepts.

BUSINESS SEGMENTS

The Company operates in two reportable business segments; the Wholesale segment, which is the Company’s primary business that designs, markets and distributes its products to retailers and distributors, and the Retail Direct segment in which the Company markets and sells a limited selection of its products to consumers through its Pfaltzgraff^®, Mikasa^®, Housewares Deals™ and Lifetime Sterling™ Internet websites.

INVESTMENTS

The Company owns approximately 30% of the outstanding capital stock of Vasconia, a leading Mexican housewares company. The Company accounts for its investment in Vasconia using the equity method of accounting and has recorded its proportionate share of Vasconia’s net income, net of taxes, as equity in earnings in the Company’s consolidated statements of operations. Pursuant to a Shares Subscription Agreement (the “Agreement”), the Company may designate four persons to be nominated as members of Vasconia’s Board of Directors. The Agreement also provides a mechanism whereby, through December 2012, the Company is able to acquire from certain shareholders of Vasconia a controlling interest in Vasconia; subject to such shareholders electing not to sell their interest and, instead, acquiring the Company’s shares or Vasconia repurchasing the Company’s shares. Shares of Vasconia’s capital stock are traded on the Bolsa Mexicana de Valores, the Mexican Stock Exchange (www.bmv.com.mx). The Quotation Key is VASCONI.

In December 2011, the Company acquired a 40% equity interest in GSI. GSI is a leading wholesale distributor of branded housewares products in Brazil. The company markets dinnerware, glassware, home décor, kitchenware and barware to customers including: major department stores, housewares retailers and independent shops throughout Brazil. The Company accounts for its investment in GSI using the equity method of accounting and has recorded its proportionate share of GSI’s net income, net of taxes, as equity in earnings in the Company’s consolidated statements of operations. Pursuant to a Shareholders’ Agreement, the Company has the right to designate three persons (including one independent person, as defined) to be appointed as members of GSI’s Board of Directors. GSI’s Board of Directors is comprised of seven members (including two independent members).

-16-

SEASONALITY

The Company’s business and working capital needs are highly seasonal, with a majority of sales occurring in the third and fourth quarters. In 2011 and 2010 net sales for the third and fourth quarters accounted for 59% and 60% of total annual net sales, respectively. In anticipation of the pre-holiday shipping season, inventory levels increase primarily in the June through October time period.

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

There have been no material changes to the Company’s critical accounting policies and estimates discussed in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations – Critical Accounting Policies and Estimates included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011.

RESULTS OF OPERATIONS

The following table sets forth statements of operations data of the Company as a percentage of net sales for the periods indicated:


	Three Months Ended March 31,
	2012			2011
Net sales		100.0	%		100.0	%
Cost of sales		62.9			63.6

Gross margin		37.1			36.4
Distribution expenses		10.8			11.9
Selling, general and administrative expenses		23.4			24.5

Income from operations		2.9			—
Interest expense		(1.6	)		(2.2	)

Income (loss) before income taxes and equity in earnings		1.3			(2.2	)
Income tax (provision) benefit		(0.5	)		0.6
Equity in earnings, net of taxes		0.4			0.5

Net income (loss)		1.2	%		(1.1	)%

-17-

MANAGEMENT’S DISCUSSION AND ANALYSIS

THREE MONTHS ENDED MARCH 31, 2012 AS COMPARED TO THE THREE MONTHS ENDED

MARCH 31, 2011

Net Sales

Net sales for the three months ended March 31, 2012 were $109.0 million, an increase of $17.2 million, or 18.7%, as compared to net sales of $91.8 million for the corresponding period in 2011.

Net sales for the Wholesale segment for the three months ended March 31, 2012 were $103.3 million, an increase of $18.4 million or 21.7%, as compared to net sales of $84.9 million for the corresponding period in 2011. Net sales for the Company’s Kitchenware product category were $55.6 million for the three months ended March 31, 2012, an increase of $11.7 million, or 26.7%, as compared to $43.9 million for the corresponding period in 2011. The increase in the Company’s Kitchenware product category was primarily attributable to successful new programs during the period as compared to the corresponding period in 2011. Net sales for the Company’s Tabletop product category were $23.4 million for the three months ended March 31, 2012, a decrease of $3.9 million, or 14.3%, as compared to $27.3 million for the corresponding period in 2011. The Tabletop product category sales decrease was primarily attributable to the absence, in the 2012 quarter, of sales of excess sterling silver finished goods inventory and a major rollout of dinnerware each of which occurred in the 2011 quarter. Net sales for the Company’s Home Solutions product category were $13.0 million for the three months ended March 31, 2012, a decrease of $0.7 million, or 5.1%, as compared to $13.7 million for the corresponding period in 2011. The decrease in sales for the Company’s Home Solutions product category was due to the continued category weakness. Net sales in the 2012 quarter also include $11.3 million from Creative Tops, which was acquired in November 2011.

Net sales for the Retail Direct segment for the three months ended March 31, 2012 were $5.7 million, a decrease of $1.2 million, or 17.4%, as compared to $6.9 million for the corresponding period in 2011. The decrease was primarily attributable to the Company’s decision to terminate its consumer print catalog during the second quarter of 2011 and a reduction in promotional activities.

Gross margin

Gross margin for the three months ended March 31, 2012 was $40.5 million, or 37.1%, as compared to $33.4 million, 36.4%, for the corresponding period in 2011.

Gross margin for the Wholesale segment was 35.4% for the three months ended March 31, 2011 as compared to 34.0% for the corresponding period in 2011. The increase in gross margin primarily reflects changes in product mix and the absence of sales of excess sterling silver finished goods inventory.

Gross margin for the Retail Direct segment was 68.6% for the three months ended March 31, 2012 as compared to 66.4% for the corresponding period in 2011. The increase in gross margin reflects less promotional activities.

Distribution expenses

Distribution expenses for the three months ended March 31, 2012 were $11.7 million as compared to $10.9 million for the corresponding period in 2011. Distribution expenses as a percentage of net sales were 10.8% for the three months ended March 31, 2012 as compared to 11.9% for the corresponding period in 2011.

Distribution expenses as a percentage of sales for the Wholesale segment shipped from the Company’s warehouse located in the United States were 9.8% as compared to 10.9% for the corresponding period in 2011. The improvement resulted from an increase in sales from warehouses, improved labor management and lower facility expense, especially for our New Jersey facility which benefited from the mild winter weather.

Distribution expenses as a percentage of net sales for the Retail Direct segment were approximately 30.6% for the three months ended March 31, 2012 as compared to 28.7% for the corresponding period in 2011. A substantial portion of distribution expenses are fixed and, therefore, cannot be reduced to offset a reduction in sales volumes.

-18-

Selling, general and administrative expenses

Selling, general and administrative expenses for the three months ended March 31, 2012 were $25.5 million, an increase of 13.3%, as compared to $22.5 million for the corresponding period in 2011. Excluding the expenses of Creative Tops, SG&A increased $0.6 million.

Selling, general and administrative expenses for the three months ended March 31, 2012 for the Wholesale segment were $20.4 million, an increase of $3.4 million, or 20.0%, from $17.0 million for the corresponding period in 2011. The increase was primarily due to the inclusion of Creative Tops. As a percentage of net sales, selling, general and administrative expenses improved to 19.7% for the three months ended March 31, 2012 compared to 20.0% for the corresponding period in 2011.

Selling, general and administrative expenses for the three months ended March 31, 2012 for the Retail Direct segment were $2.2 million as compared to $2.7 million for the corresponding period in 2011. The decrease was primarily attributable to lower expenses related to the consumer print catalog and, to a less extent, lower sales.

Unallocated corporate expenses for the three months ended March 31, 2012 and 2011 were $2.9 million and $2.8 million, respectively. The increase was primarily attributable to employee related expenses.

Interest expense

Interest expense for the three months ended March 31, 2012 was $1.7 million as compared to $2.0 million for the corresponding period in 2011. While borrowings were higher in the current quarter due to recent acquisitions, they were more than offset by lower average interest rates, reflecting the retirement of the Company’s Convertible Notes in July 2011.

Income tax provision

The income tax provision for the three months ended March 31, 2012 was $0.6 million as compared to a $0.6 million benefit for the corresponding period in 2011. The Company’s effective tax rate for the three months ended March 31, 2012 was 38.3% as compared to a benefit of 29.4% for the loss in the 2011 period. In the 2011 period, the reduced benefit rate was due to losses in certain jurisdictions for which no benefit could be recorded for financial reporting purposes.

Equity in earnings

Equity in the earnings of Vasconia, net of taxes, was $0.5 million for the three months ended March 31, 2012 and 2011. Vasconia reported income from operations for the three months ended March 31, 2012 and 2011 of $3.3 million and net income of $2.0 million for the three months ended March 31, 2012 as compared to $2.1 million for the three months ended March 31, 2011.

LIQUIDITY AND CAPITAL RESOURCES

The Company’s principal sources of cash to fund liquidity needs are: (i) cash provided by operating activities and (ii) borrowings available under its revolving credit facility. The Company’s primary uses of funds consist of working capital requirements, capital expenditures and payments of principal and interest on its debt.

Revolving Credit Facility

The Company has a $150.0 million secured credit agreement (the “Revolving Credit Facility”), which matures on October 28, 2016, with a bank group led by JPMorgan Chase Bank, N.A.

At March 31, 2012, borrowings outstanding under the Revolving Credit Facility were $56.5 million and open letters of credit were $1.2 million.

The Company classified a portion of the Revolving Credit Facility as a current liability based on the Company’s intent and ability to repay the loan from cash flows from operations for within the year. Repayments and borrowings under the facility can vary significantly from planned levels based on cash flow needs and general economic conditions. The Company expects that it will continue to borrow and repay funds, subject to availability, under the facility based on working capital and other corporate needs.

-19-

Term Loan

The Company has a $40.0 million second lien credit agreement (the “Term Loan”), which matures on June 8, 2015, with Citibank, N.A.

The Term Loan requires the Company to have EBITDA, as defined, of not less than $31.0 million for the trailing four fiscal quarters through March 31, 2012 and limits capital expenditures to $8.0 million for the year ended December 31, 2012. The Company was in compliance with these financial covenants at March 31, 2012.

The Company’s Consolidated EBITDA for the four quarters ended March 31, 2012 was $41.6 million, as follows:


Consolidated EBITDA for the four quarters ended March 31, 2012
(in thousands)
Three months ended March 31, 2012	$	6,222
Three months ended December 31, 2011		14,342
Three months ended September 30, 2011		13,524
Three months ended June 30, 2011		7,512

Total for the four quarters	$	41,600

Capital expenditures for the three months ended March 31, 2012 were $0.5 million.

Non-GAAP financial measure

Consolidated EBITDA is a non-GAAP financial measure within the meaning of Regulation G promulgated by the U.S. Securities and Exchange Commission. The following is a reconciliation of the net income (loss) as reported to Consolidated EBITDA for the three months ended March 31, 2012 and 2011:


	Three Months Ended March 31,
	2012			2011
	(in thousands)
Net income (loss) as reported	$	1,344		$	(949	)
Subtract out:
Undistributed equity earnings, net		(398	)		(465	)
Add back:
Income tax provision (benefit)		588			(588	)
Interest expense		1,698			1,979
Depreciation and amortization		2,207			1,995
Stock compensation expense		698			748
Permitted acquisition related expenses		85			—

Consolidated EBITDA	$	6,222		$	2,720

-20-

Operating activities

Cash provided by operating activities was $3.3 million for the three months ended March 31, 2012 as compared to cash used in operating activities of $3.7 million for the corresponding period in 2011. The increase was primarily attributable to an increase in net income and a reduction from the timing of income tax and other payments in the three months ended March 31, 2012 as compared to the corresponding period in 2011.

Investing activities

Cash used in investing activities was $0.5 million for the three months ended March 31, 2012 as compared to $1.0 million for the corresponding period in 2011. The decrease in investing activities related to equipment purchases for the Company’s distribution facilities and certain product development technology enhancements in 2011 which did not recur in 2012.

Financing activities

Cash used in financing activities was $1.4 million for the three months ended March 31, 2012 as compared to $2.9 million provided by financing activities for the 2011 period. The Company used cash flows from operations to repay $1.1 million of debt in the 2012 period compared to incurring debt of $2.9 million in the corresponding period in 2011. The Company also paid a dividend of $0.3 million in the three months ended March 31, 2012.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

Market risk represents the risk of loss that may impact the consolidated financial position, results of operations or cash flows of the Company. The Company is exposed to market risk associated with changes in interest rates and foreign currency exchange rates. The Company’s Revolving Credit Facility and Term Loan bear interest at variable rates and, therefore, the Company is subject to increases and decreases in interest expense resulting from fluctuations in interest rates. The Company has foreign operations through its equity investments which have operations in Mexico, Hong Kong and Brazil and through its wholly-owned subsidiary in the United Kingdom; therefore, the Company is subject to increases and decreases in its investments resulting from the impact of fluctuations in foreign currency exchange rates on equity income.

Item 4. Controls and Procedures

(a)

Evaluation of Disclosure Controls and Procedures

The Chief Executive Officer and the Chief Financial Officer of the Company (its principal executive officer and principal financial officer, respectively) have concluded, based on their evaluation as of March 31, 2012, that the Company’s controls and procedures are effective to ensure that information required to be disclosed by the Company in the reports filed by it under the Securities and Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, and include controls and procedures designed to ensure that information required to be disclosed by the Company in such reports is accumulated and communicated to the Company’s management, including the Chief Executive Officer and Chief Financial Officer of the Company, as appropriate to allow timely decisions regarding required disclosure.

(b)

Changes in Internal Controls

There were no changes in the Company’s internal control over financial reporting that occurred during the Company’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting. The Company acquired Creative Tops in November 2011 which will require compliance with Section 404 of the Sarbanes-Oxley Act of 2002 as of December 31, 2012.

-21-

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

The Company is not aware of any determination by the EPA that any remedial action is warranted for the Site; and, accordingly, is not able to estimate the extent of any possible liability.

Item 1A. Risk Factors

There have been no material changes in the Company’s risk factors from those disclosed in the Company’s 2011 Annual Report on Form 10-K.

-22-

Item 6. Exhibits

Exhibit No.


31.1		Certification by Jeffrey Siegel, Chief Executive Officer and President, pursuant to Rule 13a-14(a) or Rule 15d-14(a) of the Securities and Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2		Certification by Laurence Winoker, Senior Vice President – Finance, Treasurer and Chief Financial Officer, pursuant to Rule 13a-14(a) or Rule 15d-14(a) of the Securities and Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1		Certification by Jeffrey Siegel, Chief Executive Officer and President, and Laurence Winoker, Senior Vice President – Finance, Treasurer and Chief Financial Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101		Interactive data files pursuant to Rule 405 of Regulation S-T. The following materials from Lifetime Brands, Inc.’s Quarterly Report of Form 10-Q for the quarter ended March 31, 2012 formatted in XBRL (eXtensible Business Reporting Language): (i) the Condensed Consolidated Balance Sheets, (ii) the Unaudited Condensed Consolidated Statements of Operations, (iii) the Unaudited Consolidated Statement of Comprehensive Income, (iv) the Unaudited Condensed Consolidated Statement of Cash Flows, and (v) Notes to the Unaudited Condensed Consolidated Financial Statements, tagged as blocks of text.

-23-

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.


				Lifetime Brands, Inc.

				/s/ Jeffrey Siegel		May 4, 2012
				Jeffrey Siegel
				Chief Executive Officer and President
				(Principal Executive Officer)

				/s/ Laurence Winoker		May 4, 2012
				Laurence Winoker
				Senior Vice President – Finance, Treasurer and Chief Financial Officer
				(Principal Financial and Accounting Officer)

-24-

EX-31.1 2 d333374dex311.htm CERTIFICATION BY JEFFREY SIEGEL Certification by Jeffrey Siegel

Exhibit 31.1

CERTIFICATION

I, Jeffrey Siegel, certify that:

I have reviewed this quarterly report on Form 10-Q of Lifetime Brands, Inc. (“the registrant”);

Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-14 and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f))) for the registrant and have:

designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;

designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected or is reasonably likely to materially affect the registrant’s internal control over financial reporting; and

The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

all significant deficiencies in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

/s/ Jeffrey Siegel

Jeffrey Siegel

Chief Executive Officer and President

Date: May 4, 2012

EX-31.2 3 d333374dex312.htm CERTIFICATION BY LAURENCE WINOKER Certification by Laurence Winoker

Exhibit 31.2

CERTIFICATION

I, Laurence Winoker, certify that:

I have reviewed this quarterly report on Form 10-Q of Lifetime Brands, Inc. (“the registrant”);

any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

/s/ Laurence Winoker

Laurence Winoker

Senior Vice President – Finance,

Treasurer and Chief Financial Officer

Date: May 4, 2012

EX-32.1 4 d333374dex321.htm CERTIFICATION BY JEFFREY SIEGEL AND LAURENCE WINOKER Certification by Jeffrey Siegel and Laurence Winoker

Exhibit 32.1

Certification by Jeffrey Siegel, Chief Executive Officer and President, and Laurence Winoker, Senior Vice President – Finance, Treasurer and Chief Financial Officer, Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

I, Jeffrey Siegel, Chief Executive Officer and President, and I, Laurence Winoker, Senior Vice President – Finance, Treasurer and Chief Financial Officer, of Lifetime Brands, Inc., a Delaware corporation (the “Company”), each hereby certifies that:

(1)

The Company’s periodic report on Form 10-Q for the period ended March 31, 2012 (the “Form 10-Q”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(2)

The information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company.


/s/ Jeffrey Siegel				/s/ Laurence Winoker
Jeffrey Siegel				Laurence Winoker
Chief Executive Officer and President				Senior Vice President- Finance, Treasurer
				and Chief Financial Officer

Date: May 4, 2012				Date: May 4, 2012

A signed original of this written statement required by Section 1350 has been provided to Lifetime Brands, Inc. and will be retained by Lifetime Brands, Inc. and furnished to the Securities and Exchange Commission or its staff, upon request.

EX-101.INS 5 lcut-20120331.xml XBRL INSTANCE DOCUMENT 12438393

1534000

3742000

2568000

-3800000

68166000

40000000

15189000

29562000

5286000

72902000

319287000

70000

124000

113653000

12438393

199603000

41545000

4867000

0.01

138186000

5051000

5427000

15000000

319287000

149699000

12438393

0.01

33025000

36380000

25000000

327000

23534000

46537000 14450000

2000000

100

3351000

4172000

2475000

-5881000

69962000

40000000

14465000

33877000

5264000

77749000

318745000

2100000

124000

110337000

12430893

198797000

42625000

2972000

0.01

137467000

4602000

5385000

15000000

318745000

146175000

12430893

0.01

34324000

34515000

25000000

18985000

46937000 14598000

2000000

100

33390000

745000

9000

-1047000

-11847000

1225000

27000

-3658000

276000

229000

58383000

-2002000

748000

-0.08

1979000

-949000

6000

-5036000

0.025

1047000

-0.08

1995000

91773000

-23000

22473000

-588000

-1817000

52000

10940000

3969000

465000

2900000

465000

2888000

-3000 -7242000 16000 Q1 LCUT LIFETIME BRANDS, INC false Accelerated Filer 2012 10-Q 2012-03-31 0000874396 --12-31

40460000

22000

<div> NOTE A — BASIS OF PRESENTATION AND SUMMARY ACCOUNTING POLICIES Organization and business Lifetime Brands, Inc. (the “Company”) designs, sources and sells branded kitchenware, tabletop and other products used in the home and markets its products under a number of brand names and trademarks, which are either owned or licensed. The Company markets and sells its products principally on a wholesale basis to retailers. The Company also markets and sells a limited selection of its products directly to the consumer through its Pfaltzgraff®, Mikasa®, Lifetime Sterling™ and Housewares Deals™ Internet websites. Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. 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 U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments, consisting only of normal recurring accruals, considered necessary for a fair presentation have been included. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011. Operating results for the three month period ended March 31, 2012 are not necessarily indicative of the results that may be expected for the year ending December 31, 2012. The Company’s business and working capital needs are highly seasonal, with a majority of sales occurring in the third and fourth quarters. In 2011 and 2010, net sales for the third and fourth quarters accounted for 59% and 60% of total annual net sales, respectively. In anticipation of the pre-holiday shipping season, inventory levels increase primarily in the June through October time period. Revenue recognition The Company sells products wholesale, to retailers and distributors, and retail, directly to the consumer. Wholesale sales and retail sales are recognized when title passes to the customer, which is primarily at the shipping point for wholesale sales and upon delivery to the customer for retail sales. Shipping and handling fees that are billed to customers in sales transactions are included in net sales and amounted to $353,000 and $455,000 for the three months ended March 31, 2012 and 2011, respectively. Net sales exclude taxes that are collected from customers and remitted to the taxing authorities. The Company offers various sales incentives and promotional programs to its customers from time to time in the normal course of business. These incentives and promotions typically include arrangements such as cooperative advertising, buydowns, volume rebates and discounts. These arrangements and an estimate of sales returns are reflected as reductions in net sales in the Company’s condensed consolidated statements of operations. Cost of sales Cost of sales consist primarily of costs associated with the production and procurement of product, inbound freight costs, purchasing costs, royalties and other product procurement related charges. Distribution expenses Distribution expenses consist primarily of warehousing expenses, handling costs of products sold and freight-out expenses.   Inventory Inventory consists principally of finished goods sourced from third-party suppliers. Inventory also includes finished goods, work in process and raw materials related to the Company’s manufacture of sterling silver products. Inventory is priced by the lower of cost (first-in, first-out basis) or market method. The Company estimates the selling price of its inventory on a product by product basis based on the current selling environment. If the estimated selling price is lower than the inventory’s cost, the Company reduces the value of the inventory to its net realizable value. The components of inventory are as follows:   <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="76%" align="center"> <tr> <td width="74%"></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">March 31, 2012</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">December 31, 2011</td> <td valign="bottom"> </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"></td> <td valign="bottom">  </td> <td valign="bottom" align="center"> </td> <td valign="bottom" colspan="5" align="center">(in thousands)</td> <td valign="bottom">  </td> </tr> <tr> <td valign="top"> Finished goods </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">109,376</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">107,471</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Work in process </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2,325</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,683</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr> <td valign="top"> Raw materials </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,952</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,183</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Total </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">113,653</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">110,337</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> </table> Fair value of financial instruments The Company determined the carrying amounts of cash and cash equivalents, accounts receivable and accounts payable are reasonable estimates of their fair values because of their short-term nature. The Company determined that the carrying amounts of borrowings outstanding under its revolving credit facility and term loan approximate fair value since such borrowings bear interest at variable market rates. Employee Healthcare In 2011, the Company commenced self insurance of certain portions of its health insurance plan. The Company maintains an estimated accrual for unpaid claims and claims incurred but not yet reported (“IBNR”). Although management believes that it uses the best information available to estimate IBNR, actual claims may vary significantly from estimated claims. Adoption of New Accounting Pronouncements Effective January 1, 2012, the Company adopted Accounting Standard Update (“ASU”) No. 2011-05, Presentation of Comprehensive Income. Under this guidance, an entity has the option to present the total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements in its annual financial statements. In connection with the adoption of this standard, our condensed financial statements include a separate statement of comprehensive income. Effective January 1, 2012, the Company adopted ASU No. 2011-08, Intangibles—Goodwill and Other (Topic 350): Testing for Goodwill Impairment, which permits an entity to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test described in ASC Topic No. 350, Intangibles – Goodwill and Other. The adoption of this standard did not have a significant impact on our condensed consolidated financial statements. </div>

-475000

-4872000

2081000

<div> NOTE I — CONTINGENCIES Wallace Silversmiths de Puerto Rico, Ltd. (“Wallace de Puerto Rico”), a wholly-owned subsidiary of the Company, operates a manufacturing facility in San Germán, Puerto Rico, that is leased from the Puerto Rico Industrial Development Company (“PRIDCO”). In March 2008, the United States Environmental Protection Agency (the “EPA”) announced that the San Germán Ground Water Contamination site in Puerto Rico (the “Site”) had been added to the Superfund National Priorities List due to contamination present in the local drinking water supply. In May 2008, Wallace de Puerto Rico received from the EPA a Notice of Potential Liability and Request for Information Pursuant to 42 U.S.C. Sections 9607(a) and 9604(e) of the Comprehensive Environmental Response, Compensation, Liability Act. The Company responded to the EPA’s Request for Information on behalf of Wallace de Puerto Rico. In July 2011, Wallace de Puerto Rico received a letter from the EPA requesting access to the property that it leases from PRIDCO and the Company granted such access. The Company is not aware of any determination by the EPA that any remedial action is warranted for the Site; and, accordingly, is not able to estimate the extent of any possible liability. The Company is, from time to time, involved in other legal proceedings. The Company believes that other current litigation is routine in nature and incidental to the conduct of the Company’s business, and that none of this litigation, individually or collectively, would have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows. </div>

<div> NOTE H – BUSINESS SEGMENTS The Company operates in two reportable business segments; the Wholesale segment, the Company’s primary business, in which the Company designs, markets and distributes products to retailers and distributors, and the Retail Direct segment, in which the Company markets and sells a limited selection of its products directly to consumers through its Pfaltzgraff®, Mikasa®, Housewares Deals™ and Lifetime Sterling™ Internet websites. The Company has segmented its operations to reflect the manner in which management reviews and evaluates the results of its operations. Management evaluates the performance of the Wholesale and Retail Direct segments based on net sales and income (loss) from operations. Such measures give recognition to specifically identifiable operating costs such as cost of sales, distribution expenses and selling, general and administrative expenses. Certain general and administrative expenses, such as senior executive salaries and benefits, stock compensation, director fees and accounting, legal and consulting fees, are not allocated to the specific segments and are reflected as unallocated corporate expenses.   <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="76%" align="center"> <tr> <td width="78%"></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="6" align="center">Three Months Ended March 31,</td> <td valign="bottom"> </td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">2012</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">2011</td> <td valign="bottom"> </td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom" colspan="6" align="center">(in thousands)</td> <td valign="bottom"> </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Net sales </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> Wholesale </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">103,340</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">84,903</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Retail Direct </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">5,701</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">6,870</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr> <td valign="top"> Total net sales </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">109,041</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">91,773</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Income (loss) from operations </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> Wholesale </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">6,160</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,914</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Retail Direct </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(8</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(104</td> <td valign="bottom" nowrap="nowrap">) </td> </tr> <tr> <td valign="top"> Unallocated corporate expenses </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(2,920</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(2,833</td> <td valign="bottom" nowrap="nowrap">) </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Total income (loss) from operations </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">3,232</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">(23</td> <td valign="bottom" nowrap="nowrap">) </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr> <td valign="top"> Depreciation and amortization </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Wholesale </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">(2,150</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">(1,975</td> <td valign="bottom" nowrap="nowrap">) </td> </tr> <tr> <td valign="top"> Retail Direct </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(57</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(20</td> <td valign="bottom" nowrap="nowrap">) </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Total depreciation and amortization </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">(2,207</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">(1,995</td> <td valign="bottom" nowrap="nowrap">) </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> </table> </div>

<div> NOTE D — DEBT Revolving Credit Facility The Company has a $150.0 million secured credit agreement (the “Revolving Credit Facility”), maturing on October 28, 2016, with a bank group led by JPMorgan Chase Bank, N.A. Borrowings under the Revolving Credit Facility bear interest, at the Company’s option, at one of the following rates: (i) the Alternate Base Rate, defined as the greater of the Prime Rate, Federal Funds Rate plus 0.5% or the Adjusted LIBOR rate plus 1.0%, plus a margin of 1.0% to 1.75%, or (ii) the Eurodollar Rate, defined as the Adjusted LIBOR Rate plus a margin of 2.0% to 2.75%. The respective margins are based upon availability. Interest rates on outstanding borrowings at March 31, 2012 ranged from 2.75% to 4.75%. In addition, the Company pays a commitment fee of 0.375% to 0.50% on the unused portion of the Revolving Credit Facility. At March 31, 2012, the Company had $1.2 million of open letters or credit and $56.5 million of borrowings outstanding under the Revolving Credit Facility. Availability under the Revolving Credit Facility was approximately $72.1 million, or 48%, of the total loan commitment at March 31, 2012. Pursuant to the provisions of ASC Topic No. 470-10, Short-term Obligations Expected to be Refinanced, at March 31, 2012 and December 31, 2011, the Company classified a portion of the Revolving Credit Facility as a current liability based on the Company’s intent and ability to repay the loan from cash flows from operations which are expected to occur within the year. Repayments and borrowings under the facility can vary significantly from planned levels based on cash flow needs and general economic conditions. The Company expects that it will continue to borrow and repay funds, subject to availability, under the facility based on working capital needs. Term Loan The Company has a $40.0 million second lien credit agreement (the “Term Loan”), which matures on June 8, 2015, with Citibank, N.A. The Term Loan bears interest, at the Company’s option, at one of the following rates: (i) the Alternate Base Rate, defined as the greater of the corporate rate published by the lender and the Federal Funds Rate plus 0.50% provided that such calculated rate is a minimum of 2.50%, plus a margin of 7.50%, or (ii) the Adjusted LIBOR rate which shall be a minimum of 1.50%, plus a margin of 8.50%. The interest rate on the outstanding borrowings at March 31, 2012 was 10.0%. The Term Loan requires the Company to have EBITDA, as defined, of not less than $31.0 million for the trailing four fiscal quarters through March 31, 2012 and limits capital expenditures to $8.0 million for 2012. The Company was in compliance with the financial covenants of the Term Loan and Revolving Credit Facility at March 31, 2012. </div>

3297000

3425000

<div> NOTE F — INCOME (LOSS) PER COMMON SHARE Basic income per common share has been computed by dividing net income by the weighted-average number of shares of the Company’s common stock outstanding. Diluted income per common share adjusts net income and basic income per common share for the effect of all potentially dilutive shares of the Company’s common stock. The calculations of basic and diluted income per common share for the three month periods ended March 31, 2012 and 2011 are as follows:   <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="76%" align="center"> <tr> <td width="75%"></td> <td valign="bottom" width="8%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="8%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="6" align="center">Three Months Ended March 31,</td> <td valign="bottom"> </td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">2012</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">2011</td> <td valign="bottom"> </td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom" colspan="6" align="center">(in thousands, except per share amounts)</td> <td valign="bottom"> </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Net income (loss) – basic and diluted </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,344</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">(949</td> <td valign="bottom" nowrap="nowrap">) </td> </tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> </tr> <tr> <td valign="top"> Weighted-average shares outstanding – basic </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">12,432</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">12,066</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Effect of dilutive securities: </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> Stock options </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">333</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Weighted-average shares outstanding – diluted </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">12,765</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">12,066</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr> <td valign="top"> Basic income (loss) per common share </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.11</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">(0.08</td> <td valign="bottom" nowrap="nowrap">) </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Diluted income (loss) per common share </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.11</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">(0.08</td> <td valign="bottom" nowrap="nowrap">) </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> </table> The computation of diluted income per common share for the three months ended March 31, 2012 and 2011 excludes options to purchase 1,188,800 shares and 2,366,000 shares, respectively. These shares were excluded due to their antidilutive effects. </div>

68581000

1534000

698000

0.11

<div> NOTE B —INVESTMENTS The Company owns a 30% interest in Grupo Vasconia S.A.B. (“Vasconia”). The Company accounts for its investment in Vasconia using the equity method of accounting and records its proportionate share of Vasconia’s net income in the Company’s statement of operations. Accordingly, the Company has recorded its proportionate share of Vasconia’s net income (reduced for amortization expense related to the customer relationships acquired) for the three month periods ended March 31, 2012 and 2011 in the accompanying condensed consolidated statements of operations. The value of the Company’s investment balance has been translated from Mexican Pesos (“MXN”) to U.S. Dollars (“USD”) using the spot rate of MXN 12.78 and MXN 11.89 at March 31, 2012 and 2011, respectively. The Company’s proportionate share of Vasconia’s net income has been translated from MXN to USD using the average exchange rate of MXN 12.98 and MXN 12.09 during the three months ended March 31, 2012 and 2011, respectively. The effect of the translation of the Company’s investment resulted in a increase of the investment of $1.7 million during the three months ended March 31, 2012 and $1.2 million during the three months ended March 31, 2011 (also see Note J). These translation effects are recorded in accumulated other comprehensive loss. Included in prepaid expenses and other current assets at March 31, 2012 and December 31, 2011 are amounts due from Vasconia of $0.3 million and $0.2 million, respectively. Summarized statement of operations information for Vasconia in USD and MXN is as follows:   <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="92%" align="center"> <tr> <td width="66%"></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="14" align="center">Three Months Ended March 31,</td> <td valign="bottom"> </td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="6" align="center">2012</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="6" align="center">2011</td> <td valign="bottom"> </td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom" colspan="2"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom" colspan="6" align="center">(in thousands)</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom" colspan="2"> </td> <td valign="bottom"> </td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">USD</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">MXN</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">USD</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">MXN</td> <td valign="bottom"> </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Net Sales </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">28,687</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">372,489</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">28,571</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">345,477</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr> <td valign="top"> Gross Profit </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">8,168</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">106,064</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">8,083</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">97,737</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Income from operations </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3,322</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">43,134</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3,325</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">40,206</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr> <td valign="top"> Net Income </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,965</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">25,511</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2,131</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">25,768</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> </table> The Company recorded equity in earnings of Vasconia, net of taxes, of $0.5 million for the three months ended March 31, 2012 and 2011. The Company has a 40% equity interest in GS Internacional S/A (“GSI”), a leading wholesale distributor of branded housewares products in Brazil. During the three month period ended March 31, 2012, the Company recorded equity in losses of GSI of $133,000. Of the $7.6 million consideration payable by the Company with respect to this investment, approximately $2.6 million remained to be paid as of March 31, 2012. In February 2012, the Company entered into a joint venture to distribute Mikasa® products in China, for which it expects to make an initial investment of approximately $500,000. </div>

1698000

1344000

-2356000

0.050

475000

0.11

2207000

109041000

3232000

25484000

588000

1895000

-410000

11744000

442000

<div> NOTE G – INCOME TAXES As of December 31, 2010, the Company had fully utilized the Federal net operating loss and other credit carryforwards generated in previous years. The Company has generated various state net operating loss carryforwards of $22.0 million that will begin to expire in 2014. The Company has net operating losses in foreign jurisdictions of $2.5 million that will begin to expire in 2016. As of December 31, 2011, management had determined that it was “more likely than not” that its deferred tax assets would be realized and the corresponding valuation allowances were released based on the Company’s ability to utilize deferred tax assets currently and the expected future use of temporary differences in the carryback period. The valuation allowance which remains at March 31, 2012 relates to certain state net operating losses and foreign currency translation adjustments. The estimated value of the Company’s tax positions at March 31, 2012 is a gross liability of $134,000. If the Company’s tax positions are sustained by the taxing authorities in favor of the Company, the Company’s net liability would be reduced by $134,000, all of which would impact the Company’s tax provision. On a quarterly basis, the Company evaluates its tax positions and revises its estimates accordingly. The Company believes that $134,000 of its tax positions will be resolved within the next twelve months. The Company has identified the following jurisdictions as “major” tax jurisdictions: U.S. Federal, California, Massachusetts, New Jersey, New York and Pennsylvania. The Company is no longer subject to U.S. Federal income tax examinations for the years prior to 2009. The periods subject to examination for the Company’s major state jurisdictions are the years ended 2007 through 2011. The Company’s policy for recording interest and penalties is to record such items as a component of income taxes. Interest and penalties were not material to the Company’s financial position, results of operations or cash flows as of and for the three months ended March 31, 2012 and 2011. </div>

3316000

398000

<div> NOTE E — STOCK COMPENSATION A summary of the Company’s stock option activity and related information for the three months ended March 31, 2012 is as follows:   <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="92%" align="center"> <tr> <td width="58%"></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">Options</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">Weighted- average exercise price</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">Weighted- average remaining contractual life (years)</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">Aggregate intrinsic value</td> <td valign="bottom"> </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Options outstanding, January 1, 2012 </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2,475,750</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">12.62</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> Grants </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Exercises </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(7,500</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2.99</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> Cancellations </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(200</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">22.46</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Options outstanding, March 31, 2012 </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2,468,050</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">12.65</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">6.29</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">6,170,028</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr> <td valign="top"> Options exercisable, March 31, 2012 </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,398,050</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">14.03</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">5.13</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">4,089,333</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> </table> The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value that would have been received by the option holders had all option holders exercised their stock options on March 31, 2012. The intrinsic value is calculated for each in-the-money stock option as the difference between the closing price of the Company’s common stock on March 30, 2012 and the exercise price. The total intrinsic value of stock options exercised for the three months ended March 31, 2012 and 2011 was $56,889 and $16,990, respectively. The intrinsic value of a stock option that is exercised is calculated at the date of exercise. The Company recognized stock compensation expense of $698,000 and $748,000 for the three months ended March 31, 2012 and 2011, respectively. Total unrecognized compensation cost related to unvested stock options at March 31, 2012, before the effect of income taxes, was $3.8 million and is expected to be recognized over a weighted-average period of 1.27 years. At March 31, 2012, there were 332,676 shares available for awards that could be granted under the Company’s 2000 Long-Term Incentive Plan, as amended. On May 1, 2012, the Company granted stock options to purchase a total of 303,000 shares of common stock with an exercise price of $11.64 per share. The aggregate grant date unrecognized compensation cost of $2.0 million for these options will be recognized over their vesting period of 4 years. </div>

311000

-1080000

<div> NOTE C — INTANGIBLE ASSETS Intangible assets consist of the following (in thousands):   <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="54%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="10" align="center">March 31, 2012</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="10" align="center">December 31, 2011</td> <td valign="bottom"> </td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">Gross</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">Accumulated Amortization</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">Net</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">Gross</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">Accumulated Amortization</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">Net</td> <td valign="bottom"> </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Goodwill </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,673</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,673</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,673</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,673</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr> <td valign="top"> Indefinite-lived intangible assets: </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Trade names </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">19,433</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">19,433</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">19,433</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">19,433</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr> <td valign="top"> Finite-lived intangible assets: </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Licenses </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">15,847</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(6,757</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">9,090</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">15,847</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(6,641</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">9,206</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr> <td valign="top"> Trade names </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">6,116</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(1,496</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4,620</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">6,116</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(1,400</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4,716</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Customer relationships </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">11,166</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(860</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">10,306</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">11,166</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(681</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">10,485</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr> <td valign="top"> Patents </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">584</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(169</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">415</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">584</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(160</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">424</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Total </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">55,819</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">(9,282</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">46,537</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">55,819</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">(8,882</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">46,937</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> </table> </div>

398000

-1369000

-84000 -55000 <div> NOTE J — OTHER Cash dividends On January 11, 2012, the Board of Directors declared a quarterly dividend of $0.025 payable on February 15, 2012 to shareholders of record on February 1, 2012. On March 6, 2012, the Board of Directors declared a quarterly dividend of $0.025 per share payable on May 15, 2012 to shareholders of record on May 1, 2012. As of March 31, 2012, the Company had accrued $311,000 for the payment of the dividend. Supplemental cash flow information   <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="76%" align="center"> <tr> <td width="80%"></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="6" align="center">Three Months Ended March 31,</td> <td valign="bottom"> </td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">2012</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center">2011</td> <td valign="bottom"> </td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom" colspan="6" align="center">(in thousands)</td> <td valign="bottom"> </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Supplemental disclosure of cash flow information: </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> Cash paid for interest </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,476</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,233</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Cash paid for taxes </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,760</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">4,526</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> </tr> <tr> <td valign="top"> Non-cash investing activities: </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Translation adjustment </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">(2,081</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">(1,225</td> <td valign="bottom" nowrap="nowrap">) </td> </tr> </table> </div> 25000 0000874396 2012-01-01 2012-03-31 0000874396 2011-01-01 2011-03-31 0000874396 us-gaap:SeriesAPreferredStockMember 2011-12-31 0000874396 us-gaap:SeriesBPreferredStockMember 2011-12-31 0000874396 2011-12-31 0000874396 2010-12-31 0000874396 us-gaap:SeriesAPreferredStockMember 2012-03-31 0000874396 us-gaap:SeriesBPreferredStockMember 2012-03-31 0000874396 2012-03-31 0000874396 2011-03-31 0000874396 2012-05-04 shares iso4217:USD iso4217:USD shares

EX-101.SCH 6 lcut-20120331.xsd XBRL TAXONOMY EXTENSION SCHEMA 101 - Document - Document and Entity Information link:calculationLink link:presentationLink link:definitionLink 103 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS link:calculationLink link:presentationLink link:definitionLink 104 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) link:calculationLink link:presentationLink link:definitionLink 105 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS link:calculationLink link:presentationLink link:definitionLink 106 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME link:calculationLink link:presentationLink link:definitionLink 107 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS link:calculationLink link:presentationLink link:definitionLink 108 - Disclosure - BASIS OF PRESENTATION AND SUMMARY ACCOUNTING POLICIES link:calculationLink link:presentationLink link:definitionLink 109 - Disclosure - INVESTMENTS link:calculationLink link:presentationLink link:definitionLink 110 - Disclosure - INTANGIBLE ASSETS link:calculationLink link:presentationLink link:definitionLink 111 - Disclosure - DEBT link:calculationLink link:presentationLink link:definitionLink 112 - Disclosure - STOCK COMPENSATION link:calculationLink link:presentationLink link:definitionLink 113 - Disclosure - INCOME (LOSS) PER COMMON SHARE link:calculationLink link:presentationLink link:definitionLink 114 - Disclosure - INCOME TAXES link:calculationLink link:presentationLink link:definitionLink 115 - Disclosure - BUSINESS SEGMENTS link:calculationLink link:presentationLink link:definitionLink 116 - Disclosure - CONTINGENCIES link:calculationLink link:presentationLink link:definitionLink 117 - Disclosure - OTHER link:calculationLink link:presentationLink link:definitionLink EX-101.CAL 7 lcut-20120331_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 8 lcut-20120331_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 9 lcut-20120331_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Accounts Payable Current Accounts payable Accounts Receivable Net Current Accounts receivable, less allowances of $5,051 at March 31, 2012 and $4,602 at December 31, 2011 Accrued Income Taxes Current Income taxes payable (Note G) Accrued Liabilities Current Accrued expenses Accumulated Other Comprehensive Income Loss Net Of Tax Accumulated other comprehensive loss Additional Paid In Capital Paid-in capital Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities [Abstract] Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Allowance For Doubtful Accounts Receivable Current Accounts receivable, allowances Amendment Flag Amendment Flag Amortization Of Debt Discount Premium Amortization of debt discount Assets TOTAL ASSETS Assets [Abstract] ASSETS Assets Current TOTAL CURRENT ASSETS Assets Current [Abstract] CURRENT ASSETS Basis Of Presentation And Significant Accounting Policies [Text Block] BASIS OF PRESENTATION AND SUMMARY ACCOUNTING POLICIES Cash And Cash Equivalents At Carrying Value CASH AND CASH EQUIVALENTS AT END OF YEAR Cash and cash equivalents at beginning of year Cash and cash equivalents Cash And Cash Equivalents Period Increase Decrease INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS Class Of Stock [Domain] Class of Stock [Domain] Commitments And Contingencies Disclosure [Text Block] CONTINGENCIES Common Stock Dividends Per Share Declared Cash dividends declared per common stock Common Stock Par Or Stated Value Per Share Common stock, par value Common Stock Shares Authorized Common stock, shares authorized Common Stock Shares Issued Common stock, shares issued Common Stock Shares Outstanding Common stock, shares outstanding Common Stock Value Common stock, $.01 par value, shares authorized: 25,000,000; shares issued and outstanding: 12,438,393 at March 31, 2012 and 12,430,893 at December 31, 2011 Comprehensive Income Net Of Tax Comprehensive income Cost Of Goods And Services Sold Cost of sales Current Fiscal Year End Date Current Fiscal Year End Date Debt Disclosure [Text Block] DEBT This item represents the cumulative difference between the rental income or payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense, by the lessor or lessee, respectively, more than one year after the balance sheet date. In addition, this line item includes the carrying value as of the balance sheet date of debt not otherwise defined (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion. Deferred Rent And Other Long Term Liabilities Noncurrent DEFERRED RENT & OTHER LONG-TERM LIABILITIES Deferred Tax Assets Net Current Deferred income taxes (Note G) Deferred Tax Liabilities Noncurrent DEFERRED INCOME TAXES (Note G) Depreciation And Amortization Depreciation and amortization Disclosure Of Compensation Related Costs Share Based Payments [Text Block] STOCK COMPENSATION Document - Document and Entity Information [Abstract] Document Documentand Entity Information [Abstract] Document - Document and Entity Information [Abstract] Document Fiscal Period Focus Document Fiscal Period Focus Document Fiscal Year Focus Document Fiscal Year Focus Document Period End Date Document Period End Date Document Type Document Type Earnings Per Share Basic BASIC INCOME (LOSS) PER COMMON SHARE (NOTE F) Earnings Per Share Diluted DILUTED INCOME (LOSS) PER COMMON SHARE (NOTE F) Earnings Per Share [Text Block] INCOME (LOSS) PER COMMON SHARE Effect Of Exchange Rate On Cash And Cash Equivalents Effect of foreign exchange on cash Entity Central Index Key Entity Central Index Key Entity Common Stock Shares Outstanding Entity Common Stock, Shares Outstanding Entity [Domain] Entity [Domain] Entity Filer Category Entity Filer Category Entity Registrant Name Entity Registrant Name Equity Method Investments Disclosure [Text Block] INVESTMENTS Excess Tax Benefit From Share Based Compensation Financing Activities Excess tax benefits from exercise of stock options Carrying amount of finite-lived intangible assets, indefinite-lived intangible assets and goodwill. Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Intangible assets are assets, not including financial assets, lacking physical substance. Goodwill And Intangible Assets Net INTANGIBLE ASSETS, net (Note C) Gross Profit Gross margin Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments Income (loss) before income taxes and equity in earnings Income Loss From Equity Method Investments Equity in earnings, net of taxes (Note B) Income Loss From Equity Method Investments Net Of Dividends Or Distributions Undistributed equity earnings Income Statement [Abstract] Income Statement [Abstract] Income Tax Disclosure [Text Block] INCOME TAXES Income Taxes Receivable Income taxes receivable (Note G) Income Tax Expense Benefit Income tax (provision) benefit (Note G) The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business and the aggregate amount of accrued expenses and other operating obligations not separately disclosed in the statement of cash flows. Increase Decrease In Accounts Payable Accrued Expenses And Other Liabilities Accounts payable, accrued expenses and other liabilities Increase Decrease In Accounts Receivable Accounts receivable Increase Decrease In Accrued Income Taxes Payable Income taxes payable The net change during the reporting period in deferred rent. Increase Decrease In Deferred Rent Deferred rent Increase Decrease In Income Taxes Receivable Income taxes receivable Increase Decrease In Inventories Inventory Increase Decrease In Operating Capital [Abstract] Changes in operating assets and liabilities (excluding the effects of business acquisitions) Increase Decrease In Prepaid Deferred Expense And Other Assets Prepaid expenses, other current assets and other assets Intangible Assets Disclosure [Text Block] INTANGIBLE ASSETS Interest Expense Interest expense (Note D) Inventory Net Inventory (Note A) Investments In Affiliates Subsidiaries Associates And Joint Ventures INVESTMENTS (Note B) Legal Entity [Axis] Legal Entity [Axis] Liabilities And Stockholders Equity TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities And Stockholders Equity [Abstract] LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities Current TOTAL CURRENT LIABILITIES Liabilities Current [Abstract] CURRENT LIABILITIES Lines Of Credit Current Revolving Credit Facility (Note D) Long Term Line Of Credit REVOLVING CREDIT FACILITY (Note D) Net Cash Provided By Used In Financing Activities NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES Net Cash Provided By Used In Financing Activities [Abstract] FINANCING ACTIVITIES Net Cash Provided By Used In Investing Activities NET CASH USED IN INVESTING ACTIVITIES Net Cash Provided By Used In Investing Activities [Abstract] INVESTING ACTIVITIES Net Cash Provided By Used In Operating Activities NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES Net Cash Provided By Used In Operating Activities [Abstract] OPERATING ACTIVITIES Net Income Loss Net income (loss) NET INCOME (LOSS) Notes to Financial Statements [Abstract] Notes To Financial Statements [Abstract] Notes to Financial Statements [Abstract] Operating Income Loss Income (loss) from operations Other Assets Noncurrent OTHER ASSETS Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease Translation adjustment The entire disclosure related to all or some of the information related to dividends declared, but not paid, as of the financial reporting date, tabular disclosure of supplemental cash flow information for the periods presented and tabular disclosure of the components of accumulated other comprehensive income (loss)." This definition is derived from existing taxonomies and modified to apply to this disclosure. Other Items Disclosure [Text Block] OTHER Other Long Term Notes Payable TERM LOAN (Note D) Payments Of Dividends Cash dividend paid Payments To Acquire Property Plant And Equipment Purchases of property and equipment Preferred Stock Par Or Stated Value Per Share Preferred stock, par value Preferred Stock Shares Authorized Preferred stock, shares authorized Preferred Stock Shares Issued Preferred stock, issued Preferred Stock Shares Outstanding Preferred stock, outstanding Preferred Stock Value Preferred stock, $.01 par value, shares authorized: 100 shares of Series A and 2,000,000 shares of Series B; none issued and outstanding Prepaid Expense And Other Assets Current Prepaid expenses and other current assets Proceeds From Repayments Of Debt Proceeds (repayments) of bank borrowings, net Proceeds From Stock Options Exercised Proceeds from the exercise of stock options Property Plant And Equipment Net PROPERTY AND EQUIPMENT, net Provision For Reduction Of Doubtful Accounts Provision For Reduction Of Doubtful Accounts Provision for doubtful accounts Repayments Of Long Term Capital Lease Obligations Payment of capital lease obligations Retained Earnings Accumulated Deficit Retained earnings Sales Revenue Net Net sales Segment Reporting Disclosure [Text Block] BUSINESS SEGMENTS Selling General And Administrative Expense Selling, general and administrative expenses Series A Preferred Stock [Member] Preferred stock Series A Series B Preferred Stock [Member] Preferred stock Series B Share Based Compensation Stock compensation expense Shipping Handling And Transportation Costs Distribution expenses Statement Class Of Stock [Axis] Class of Stock [Axis] Statement [Line Items] Statement [Line Items] Statement Of Cash Flows [Abstract] Statement of Cash Flows [Abstract] Statement Of Financial Position [Abstract] Statement of Financial Position [Abstract] Statement Of Income And Comprehensive Income [Abstract] Statement of Income and Comprehensive Income [Abstract] Statement [Table] Statement [Table] Stockholders Equity TOTAL STOCKHOLDERS' EQUITY Stockholders Equity [Abstract] STOCKHOLDERS' EQUITY Trading Symbol Trading Symbol EX-101.PRE 10 lcut-20120331_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 11 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; word-wrap: break-word; } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 12 R9.htm IDEA: XBRL DOCUMENT

INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2012

INTANGIBLE ASSETS

NOTE C — INTANGIBLE ASSETS

Intangible assets consist of the following (in thousands):


	March 31, 2012							December 31, 2011
	Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
Goodwill	$	2,673	$	—		$	2,673	$	2,673	$	—		$	2,673
Indefinite-lived intangible assets:
Trade names		19,433		—			19,433		19,433		—			19,433
Finite-lived intangible assets:
Licenses		15,847		(6,757	)		9,090		15,847		(6,641	)		9,206
Trade names		6,116		(1,496	)		4,620		6,116		(1,400	)		4,716
Customer relationships		11,166		(860	)		10,306		11,166		(681	)		10,485
Patents		584		(169	)		415		584		(160	)		424

Total	$	55,819	$	(9,282	)	$	46,537	$	55,819	$	(8,882	)	$	46,937

- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References+ Details

EXCEL 13 Financial_Report.xls IDEA: XBRL DOCUMENT begin 644 Financial_Report.xls M[[N_34E-12U697)S:6]N.B`Q+C`-"E@M1&]C=6UE;G0M5'EP93H@5V]R:V)O M;VL-"D-O;G1E;G0M5'EP93H@;75L=&EP87)T+W)E;&%T960[(&)O=6YD87)Y M/2(M+2TM/5].97AT4&%R=%\Y8S5E,CDQ,U\P.6(X7S0R-SE?831C-U]E,SDU M-F8Y9C$W83`B#0H-"E1H:7,@9&]C=6UE;G0@:7,@82!3:6YG;&4@1FEL92!7 M96(@4&%G92P@86QS;R!K;F]W;B!A'!L;W)E&UL;G,Z=CTS1")U&UL;G,Z;STS1")U&UL/@T*(#QX.D5X8V5L5V]R:V)O;VL^#0H@(#QX M.D5X8V5L5V]R:W-H965T5]);F9O#I%>&-E;%=O#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D-/3D1%3E-%1%]#3TY33TQ)1$%4141?4U1!5$5- M13$\+W@Z3F%M93X-"B`@("`\>#I7;W)K#I%>&-E;%=O#I%>&-E;%=O M#I7;W)K#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D1%0E0\+W@Z3F%M93X-"B`@("`\>#I7;W)K#I7;W)K#I%>&-E M;%=O#I%>&-E;%=O#I7 M;W)K#I%>&-E;%=O#I7;W)K#I3='EL97-H965T($A2968],T0B5V]R:W-H M965T&-E;"!84"!O M3X-"CPO:'1M;#X-"@T*+2TM+2TM/5]. M97AT4&%R=%\Y8S5E,CDQ,U\P.6(X7S0R-SE?831C-U]E,SDU-F8Y9C$W83`- M"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO.6,U93(Y,3-?,#EB.%\T M,C'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R2!);F9O2`P-"P@,C`Q,CQB'0^,3`M43QS<&%N/CPO'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@ M/'1R(&-L87-S/3-$'0^3$-55#QS<&%N/CPO'0^3$E&151)344@0E)!3D13+"!)3D,\ M2!#96YT3PO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^,#`P,#@W-#,Y-CQS<&%N/CPO'0^+2TQ,BTS M,3QS<&%N/CPO3X-"CPO:'1M;#X-"@T* M+2TM+2TM/5].97AT4&%R=%\Y8S5E,CDQ,U\P.6(X7S0R-SE?831C-U]E,SDU M-F8Y9C$W83`-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO.6,U93(Y M,3-?,#EB.%\T,C'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C M:&%R&5S(')E M8V5I=F%B;&4@*$YO=&4@1RD\+W1D/@T*("`@("`@("`\=&0@8VQA&5S("A.;W1E($&5S('!A>6%B;&4@*$YO=&4@1RD\+W1D/@T*("`@("`@("`\=&0@8VQA M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$F5D.B`R-2PP M,#`L,#`P.R!S:&%R97,@:7-S=65D(&%N9"!O=71S=&%N9&EN9SH@,3(L-#,X M+#,Y,R!A="!-87)C:"`S,2P@,C`Q,B!A;F0@,3(L-#,P+#@Y,R!A="!$96-E M;6)E3X-"CPO:'1M;#X- M"@T*+2TM+2TM/5].97AT4&%R=%\Y8S5E,CDQ,U\P.6(X7S0R-SE?831C-U]E M,SDU-F8Y9C$W83`-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO.6,U M93(Y,3-?,#EB.%\T,C'0O:'1M;#L@8VAA'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$F5D/"]T9#X-"B`@("`@("`@/'1D(&-L87-S M/3-$;G5M<#XQ,#`\'0^)FYB'0^)FYB3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Y8S5E,CDQ M,U\P.6(X7S0R-SE?831C-U]E,SDU-F8Y9C$W83`-"D-O;G1E;G0M3&]C871I M;VXZ(&9I;&4Z+R\O0SHO.6,U93(Y,3-?,#EB.%\T,C'0O:'1M;#L@8VAA&5S(&%N9"!E<75I='D@:6X@96%R;FEN9W,\ M+W1D/@T*("`@("`@("`\=&0@8VQA2!I;B!E M87)N:6YG&5S("A.;W1E($(I/"]T9#X-"B`@("`@("`@ M/'1D(&-L87-S/3-$;G5M<#XS.3@\7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X- M"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP M92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T* M#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O M;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\ M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@ M/'1R(&-L87-S/3-$F%T:6]N/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$ M;G5M<#XR+#(P-SQS<&%N/CPO'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'!E;G-E'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S&5S('!A>6%B;&4\ M+W1D/@T*("`@("`@("`\=&0@8VQA6UE;G1S*2!O9B!B86YK(&)O"!B96YE M9FET6UE;G0@;V8@8V%P:71A;"!L M96%S92!O8FQI9V%T:6]N'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S&-H86YG92!O;B!C87-H/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M M<#XT-#(\7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\ M:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E M;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA'0^/&1I=CX-"CQP('-T>6QE M/3-$)TU!4D=)3BU43U`Z(#$R<'@[($U!4D=)3BU"3U143TTZ(#!P>"<^/&9O M;G0@#(P,30[($)!4TE3($]�I04D5314Y4051) M3TX@04Y$(%-534U!4ED@04-#3U5.5$E.1R!03TQ)0TE%4SPO8CX\+V9O;G0^ M/"]P/@T*/'`@6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/CQB/D]R9V%N:7IA=&EO;B!A;F0-"F)U"<^ M#0H\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N M)R!S:7IE/3-$,CY,:69E=&EM90T*0G)A;F1S+"!);F,N("AT:&4@)B-X,C`Q M0SM#;VUP86YY)B-X,C`Q1#LI(&1E2!O;B!A('=H;VQE2!A;'-O(&UA2!T;R!T:&4@8V]N MF=R869F/&9O;G0@6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0Q/CQS=7`@$%%.SPO#(Q M,C([(&%N9"!(;W5S97=A6QE/3-$)T9/3E0M M1D%-24Q9.B!4:6UEF4],T0R/CQB/D)A6QE/3-$)TU! M4D=)3BU43U`Z(#9P>#L@34%21TE.+4)/5%1/33H@,'!X)SX\9F]N="!S='EL M93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CY4 M:&4@86-C;VUP86YY:6YG('5N875D:71E9`T*8V]N9&5N2!A8V-E<'1E9"!A M8V-O=6YT:6YG('!R:6YC:7!L97,@9F]R#0II;G1E$$P.S,Q+"`R,#$R+CPO9F]N=#X\ M+W`^#0H\<"!S='EL93TS1"=-05)'24XM5$]0.B`Q,G!X.R!-05)'24XM0D]4 M5$]-.B`P<'@G/CQF;VYT('-T>6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/E1H92!#;VUP86YY)B-X,C`Q.3MS#0IB=7-I M;F5S6QE M/3-$)TU!4D=)3BU43U`Z(#$X<'@[($U!4D=)3BU"3U143TTZ(#!P>"<^/&9O M;G0@6QE/3-$)TU!4D=)3BU43U`Z(#9P>#L@34%21TE.+4)/5%1/33H@ M,'!X)SX\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O M;6%N)R!S:7IE/3-$,CY4:&4@0V]M<&%N>2!S96QL2!T;R!T:&4@8W5S=&]M97(@9F]R#0IR971A:6P@ M$$P.S,Q+"`R,#$R(&%N9"`R,#$Q+"!R97-P96-T:79E;'DN($YE M="!S86QE&-L=61E('1A>&5S#0IT:&%T(&%R92!C;VQL96-T960@9G)O M;2!C=7-T;VUE6QE/3-$)T9/3E0M M1D%-24Q9.B!4:6UEF4],T0R/E1H92!#;VUP86YY M(&]F9F5R28C>#(P,3D[6QE/3-$)TU!4D=)3BU43U`Z(#$X<'@[($U!4D=)3BU"3U143TTZ(#!P M>"<^/&9O;G0@6QE/3-$)TU!4D=)3BU43U`Z(#9P>#L@34%21TE.+4)/5%1/33H@ M,'!X)SX\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O M;6%N)R!S:7IE/3-$,CY#;W-T(&]F('-A;&5S(&-O;G-I2!O9B!C;W-T6%L=&EE6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/CQB/D1I6QE/3-$)TU!4D=)3BU43U`Z(#9P>#L@34%2 M1TE.+4)/5%1/33H@,'!X)SX\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@ M5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CY$:7-T6QE/3-$)TU!4D=) M3BU43U`Z(#(T<'@[($U!4D=)3BU"3U143TTZ(#!P>#L@1D].5"U325I%.B`Q M<'@G/@T*)B-X03`[/"]P/@T*/'`@6QE/3-$)T9/3E0M1D%- M24Q9.B!4:6UEF4],T0R/CQB/DEN=F5N=&]R>3PO M8CX\+V9O;G0^/"]P/@T*/'`@6QE/3-$)T9/3E0M1D%-24Q9 M.B!4:6UEF4],T0R/DEN=F5N=&]R>2!C;VYS:7-T M2!A;'-O(&EN8VQU M9&5S(&9I;FES:&5D(&=O;V1S+"!W;W)K(&EN('!R;V-E2!T:&4@;&]W97(@;V8@8V]S=`T**&9I2!O;B!A('!R;V1U8W0@8GD@<')O9'5C="!B87-I6QE/3-$)T9/3E0M1D%- M24Q9.B!4:6UEF4],T0R/E1H92!C;VUP;VYE;G1S M(&]F(&EN=F5N=&]R>0T*87)E(&%S(&9O;&QO=W,Z/"]F;VYT/CPO<#X-"CQP M('-T>6QE/3-$)TU!4D=)3BU43U`Z(#!P>#L@34%21TE.+4)/5%1/33H@,'!X M.R!&3TY4+5-)6D4Z(#$R<'@G/@T*)B-X03`[/"]P/@T*/'1A8FQE('-T>6QE M/3-$)T)/4D1%4BU#3TQ,05!313H@8V]L;&%PF4],T0Q/B8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O M;3X\9F]N="!S:7IE/3-$,3XF(WA!,#LF(WA!,#L\+V9O;G0^/"]T9#X-"CQT M9"!S='EL93TS1"="3U)$15(M0D]45$]-.B`C,#`P,#`P(#%P>"!S;VQI9"<@ M=F%L:6=N/3-$8F]T=&]M(&-O;'-P86X],T0R(&%L:6=N/3-$8V5N=&5R/CQF M;VYT('-T>6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0Q/CQB/DUA6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0Q/CQB/C(P,3(\+V(^/"]F;VYT/CPO=&0^#0H\=&0@=F%L:6=N/3-$ M8F]T=&]M/CQF;VYT('-I>F4],T0Q/B8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D M('9A;&EG;CTS1&)O='1O;3X\9F]N="!S:7IE/3-$,3XF(WA!,#LF(WA!,#L\ M+V9O;G0^/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B`C,#`P M,#`P(#%P>"!S;VQI9"<@=F%L:6=N/3-$8F]T=&]M(&-O;'-P86X],T0R(&%L M:6=N/3-$8V5N=&5R/CQF;VYT('-T>6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UE MF4],T0Q/CQB/D1E8V5M8F5R)B-X03`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`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`@6QE/3-$)T9/ M3E0M1D%-24Q9.B!4:6UEF4],T0R/E)A=R!M871E M6QE/3-$)T9/3E0M1D%-24Q9.B!4 M:6UEF4],T0R/B8C>$$P.SPO9F]N=#X\+W1D/@T* M/'1D('9A;&EG;CTS1&)O='1O;2!A;&EG;CTS1')I9VAT/CQF;VYT('-T>6QE M/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/C$L M.34R/"]F;VYT/CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M(&YO=W)A<#TS M1&YO=W)A<#X\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W M(%)O;6%N)R!S:7IE/3-$,CXF(WA!,#LF(WA!,#L\+V9O;G0^/"]T9#X-"CQT M9"!V86QI9VX],T1B;W1T;VT^/&9O;G0@6QE M/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/B8C M>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;2!A;&EG;CTS M1')I9VAT/CQF;VYT('-T>6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/C$L,3@S/"]F;VYT/CPO=&0^#0H\=&0@=F%L:6=N M/3-$8F]T=&]M(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=&3TY4 M+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CXF(WA!,#LF(WA! M,#L\+V9O;G0^/"]T9#X-"CPO='(^#0H\='(@6QE/3-$)T)/4D1%4BU43U`Z(",P,#`P,#`@,7!X('-O M;&ED)SXF(WA!,#L\+W`^#0H\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X- M"CQP('-T>6QE/3-$)T)/4D1%4BU43U`Z(",P,#`P,#`@,7!X('-O;&ED)SXF M(WA!,#L\+W`^#0H\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@=F%L:6=N M/3-$8F]T=&]M/B8C>$$P.R8C>$$P.SPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T M=&]M/@T*/'`@$$P.SPO<#X-"CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/@T* M/'`@$$P.SPO<#X-"CPO=&0^#0H\=&0^)B-X03`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`[)B-X03`[/"]T9#X-"CQT9"!V86QI9VX],T1B M;W1T;VT^#0H\<"!S='EL93TS1"="3U)$15(M5$]0.B`C,#`P,#`P(#-P>"!D M;W5B;&4G/B8C>$$P.SPO<#X-"CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M M/@T*/'`@$$P.SPO=&0^#0H\=&0@=F%L M:6=N/3-$8F]T=&]M/B8C>$$P.R8C>$$P.SPO=&0^#0H\=&0@=F%L:6=N/3-$ M8F]T=&]M/@T*/'`@6QE/3-$)T)/4D1%4BU43U`Z(",P,#`P,#`@,W!X(&1O=6)L M92<^)B-X03`[/"]P/@T*/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/"]T6QE/3-$)T9/3E0M1D%-24Q9.B!4 M:6UEF4],T0R/CQB/D9A:7(@=F%L=64@;V8@9FEN M86YC:6%L#0II;G-T6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4] M,T0R/E1H92!#;VUP86YY(&1E=&5R;6EN960@=&AE#0IC87)R>6EN9R!A;6]U M;G1S(&]F(&-A#L@34%21TE.+4)/5%1/33H@,'!X)SX\9F]N="!S='EL93TS1"=& M3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CX\8CY%;7!L M;WEE90T*2&5A;'1H8V%R93PO8CX\+V9O;G0^/"]P/@T*/'`@6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R M/DEN(#(P,3$L('1H92!#;VUP86YY#0IC;VUM96YC960@6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R M/CQB/D%D;W!T:6]N(&]F($YE=PT*06-C;W5N=&EN9R!06QE/3-$)T9/3E0M1D%- M24Q9.B!4:6UEF4],T0R/D5F9F5C=&EV92!*86YU M87)Y)B-X03`[,2P-"C(P,3(L('1H92!#;VUP86YY(&%D;W!T960@06-C;W5N M=&EN9R!3=&%N9&%R9"!5<&1A=&4-"B@F(W@R,#%#.T%3528C>#(P,40[*2!. M;RXF(WA!,#LR,#$Q+3`U+"`\:3Y06QE/3-$)TU!4D=)3BU43U`Z(#$R<'@[($U!4D=)3BU"3U143TTZ(#!P M>"<^/&9O;G0@$$P.S,U,"P@26YT86YG:6)L97,@)B-X,C`Q,SL@1V]O9'=I;&P@ M86YD($]T:&5R+B!4:&4-"F%D;W!T:6]N(&]F('1H:7,@3X-"CPO:'1M;#X-"@T*+2TM+2TM/5]. M97AT4&%R=%\Y8S5E,CDQ,U\P.6(X7S0R-SE?831C-U]E,SDU-F8Y9C$W83`- M"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO.6,U93(Y,3-?,#EB.%\T M,C'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/CQB/DY/5$4@0CPO8CX-"B8C>#(P,30[/&(^24Y6 M15-4345.5%,\+V(^/"]F;VYT/CPO<#X-"CQP('-T>6QE/3-$)TU!4D=)3BU4 M3U`Z(#9P>#L@34%21TE.+4)/5%1/33H@,'!X)SX\9F]N="!S='EL93TS1"=& M3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CY4:&4@0V]M M<&%N>2!O=VYS(&$@,S`E#0II;G1E#(P,4,[5F%S8V]N:6$F(W@R,#%$.RDN(%1H90T*0V]M<&%N M>2!A8V-O=6YT0T*;65T:&]D(&]F(&%C8V]U;G1I;F<@86YD(')E8V]R M9',@:71S('!R;W!O$$P.S,Q+"`R,#$R(&%N9"`R,#$Q(&EN('1H90T* M86-C;VUP86YY:6YG(&-O;F1E;G-E9"!C;VYS;VQI9&%T960@&EC86X@4&5S;W,@*"8C>#(P,4,[35A.)B-X,C`Q1#LI('1O M(%4N4RX@1&]L;&%R#(P,4,[55-$)B-X,C`Q1#LI('5S:6YG('1H M92!S<&]T(')A=&4@;V8@35A.(#$R+C2X@5&AE M($-O;7!A;GDF(W@R,#$Y.W,-"G!R;W!O2X@5&AE(&5F9F5C="!O9B!T:&4@=')A;G-L871I M;VX@;V8@=&AE#0I#;VUP86YY)B-X,C`Q.3MS(&EN=F5S=&UE;G0@$$P.S,Q+"`R,#$R(&%N9`T*1&5C96UB M97(F(WA!,#LS,2P@,C`Q,2!A2X\+V9O;G0^/"]P/@T*/'`@#L@34%21TE.+4)/5%1/33H@,'!X)SX\9F]N="!S='EL93TS1"=&3TY4+49! M34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CY3=6UM87)I>F5D('-T M871E;65N="!O9@T*;W!E6QE/3-$)TU!4D=)3BU43U`Z(#!P>#L@34%21TE.+4)/5%1/33H@ M,'!X.R!&3TY4+5-)6D4Z(#$R<'@G/@T*)B-X03`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`P,#`@,7!X('-O;&ED)R!V86QI9VX] M,T1B;W1T;VT@8V]LF4],T0Q/B8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O M;3X\9F]N="!S:7IE/3-$,3XF(WA!,#LF(WA!,#L\+V9O;G0^/"]T9#X-"CQT M9"!S='EL93TS1"="3U)$15(M0D]45$]-.B`C,#`P,#`P(#%P>"!S;VQI9"<@ M=F%L:6=N/3-$8F]T=&]M(&-O;'-P86X],T0R(&%L:6=N/3-$8V5N=&5R/CQF M;VYT('-T>6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0Q/E531#PO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\ M9F]N="!S:7IE/3-$,3XF(WA!,#L\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX] M,T1B;W1T;VT^/&9O;G0@6QE/3-$)U1%6%0M24Y$14Y4.B`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`],T1N M;W=R87`^/&9O;G0@F4],T0Q/B8C>$$P.R8C>$$P.SPO M9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\9F]N="!S='EL93TS M1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CXD/"]F M;VYT/CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M(&%L:6=N/3-$6QE/3-$)U1%6%0M24Y$14Y4.B`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`],T1N;W=R87`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`],T1N;W=R87`^/&9O;G0@F4],T0Q/B8C>$$P M.R8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\9F]N M="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE M/3-$,CXF(WA!,#L\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT@ M86QI9VX],T1R:6=H=#X\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM M97,@3F5W(%)O;6%N)R!S:7IE/3-$,CXR+#$S,3PO9F]N=#X\+W1D/@T*/'1D M('9A;&EG;CTS1&)O='1O;2!N;W=R87`],T1N;W=R87`^/&9O;G0@F4],T0Q/B8C>$$P.R8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A M;&EG;CTS1&)O='1O;3X\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM M97,@3F5W(%)O;6%N)R!S:7IE/3-$,CXF(WA!,#L\+V9O;G0^/"]T9#X-"CQT M9"!V86QI9VX],T1B;W1T;VT@86QI9VX],T1R:6=H=#X\9F]N="!S='EL93TS M1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CXR-2PW M-C@\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT@;F]W6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/B8C>$$P.R8C>$$P.SPO9F]N=#X\+W1D/@T*/"]T M6QE/3-$)T9/3E0M1D%-24Q9 M.B!4:6UEF4],T0R/E1H92!#;VUP86YY(')E8V]R M9&5D(&5Q=6ET>0T*:6X@96%R;FEN9W,@;V8@5F%S8V]N:6$L(&YE="!O9B!T M87AE$$P.S,Q+"`R,#$R(&%N9"`R,#$Q+CPO9F]N=#X\+W`^ M#0H\<"!S='EL93TS1"=-05)'24XM5$]0.B`Q,G!X.R!-05)'24XM0D]45$]- M.B`P<'@G/CQF;VYT('-T>6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/E1H92!#;VUP86YY(&AA#(P,40[*2P@80T*;&5A9&EN9R!W:&]L97-A;&4@9&ES=')I8G5T;W(@ M;V8@8G)A;F1E9"!H;W5S97=A2!R96-O#L@34%21TE.+51/4#H@,3)P>#L@34%21TE.+4)/5%1/33H@,'!X)SX- M"CQF;VYT('-T>6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/DEN($9E8G)U87)Y#0HR,#$R+"!T:&4@0V]M<&%N>2!E;G1E M6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0Q/CQS=7`@$%% M.SPO2`D-3`P+#`P,"X\+V9O;G0^/"]P/@T*/"]D:78^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@(#PO=&%B;&4^#0H@ M(#PO8F]D>3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Y8S5E,CDQ M,U\P.6(X7S0R-SE?831C-U]E,SDU-F8Y9C$W83`-"D-O;G1E;G0M3&]C871I M;VXZ(&9I;&4Z+R\O0SHO.6,U93(Y,3-?,#EB.%\T,C'0O:'1M;#L@8VAA6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/CQB/DY/5$4@0R`F(W@R,#$T.PT*24Y404Y'24),12!! M4U-%5%,\+V(^/"]F;VYT/CPO<#X-"CQP('-T>6QE/3-$)TU!4D=)3BU43U`Z M(#9P>#L@34%21TE.+4)/5%1/33H@,'!X)SX\9F]N="!S='EL93TS1"=&3TY4 M+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CY);G1A;F=I8FQE M(&%S#L@1D].5"U325I%.B`Q,G!X)SX-"B8C>$$P M.SPO<#X-"CQT86)L92!S='EL93TS1"="3U)$15(M0T],3$%04T4Z(&-O;&QA M<'-E)R!B;W)D97(],T0P(&-E;&QS<&%C:6YG/3-$,"!C96QL<&%D9&EN9STS M1#`@=VED=&@],T0Q,#`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`C,#`P,#`P(#%P>"!S;VQI9"<@=F%L:6=N/3-$8F]T=&]M(&-O;'-P86X] M,T0Q,"!A;&EG;CTS1&-E;G1E$$P M.S,Q+`T*,C`Q,3PO8CX\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T M;VT^/&9O;G0@F4],T0Q/B8C>$$P.R8C>$$P.SPO9F]N=#X\+W1D M/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(",P,#`P,#`@,7!X('-O M;&ED)R!V86QI9VX],T1B;W1T;VT@8V]LF4],T0Q/B8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('-T M>6QE/3-$)T)/4D1%4BU"3U143TTZ(",P,#`P,#`@,7!X('-O;&ED)R!V86QI M9VX],T1B;W1T;VT@8V]LF4],T0Q/B8C M>$$P.R8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU" M3U143TTZ(",P,#`P,#`@,7!X('-O;&ED)R!V86QI9VX],T1B;W1T;VT@8V]L MF4],T0Q/B8C>$$P M.SPO9F]N=#X\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(",P M,#`P,#`@,7!X('-O;&ED)R!V86QI9VX],T1B;W1T;VT@8V]L6QE/3-$)T9/3E0M1D%- M24Q9.B!4:6UEF4],T0R/CQB/D=O;V1W:6QL/"]B M/CPO9F]N=#X\+W`^#0H\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\9F]N M="!S:7IE/3-$,3XF(WA!,#LF(WA!,#L\+V9O;G0^/"]T9#X-"CQT9"!V86QI M9VX],T1B;W1T;VT^/&9O;G0@6QE/3-$)T9/3E0M M1D%-24Q9.B!4:6UEF4],T0R/C(L-C6QE/3-$)T9/3E0M M1D%-24Q9.B!4:6UEF4],T0R/B0\+V9O;G0^/"]T M9#X-"CQT9"!V86QI9VX],T1B;W1T;VT@86QI9VX],T1R:6=H=#X\9F]N="!S M='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$ M,CXF(W@R,#$T.R8C>$$P.R8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG M;CTS1&)O='1O;2!N;W=R87`],T1N;W=R87`^/&9O;G0@F4],T0Q/B8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O M;3X\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N M)R!S:7IE/3-$,CXD/"]F;VYT/CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M M(&%L:6=N/3-$6QE M/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/B8C M>$$P.R8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\ M9F]N="!S:7IE/3-$,3XF(WA!,#LF(WA!,#L\+V9O;G0^/"]T9#X-"CQT9"!V M86QI9VX],T1B;W1T;VT^/&9O;G0@6QE/3-$)T9/ M3E0M1D%-24Q9.B!4:6UEF4],T0R/C(L-C6QE/3-$)T9/ M3E0M1D%-24Q9.B!4:6UEF4],T0R/B0\+V9O;G0^ M/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT@86QI9VX],T1R:6=H=#X\9F]N M="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE M/3-$,CXF(W@R,#$T.R8C>$$P.R8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A M;&EG;CTS1&)O='1O;2!N;W=R87`],T1N;W=R87`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`],T1N;W=R87`^/&9O;G0@F4],T0Q/B8C M>$$P.R8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\ M9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S M:7IE/3-$,CXF(WA!,#L\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T M;VT@86QI9VX],T1R:6=H=#X\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@ M5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CXF(W@R,#$T.R8C>$$P.R8C>$$P M.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;2!N;W=R87`],T1N M;W=R87`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`[)B-X03`[/"]F;VYT/CPO=&0^#0H\=&0@=F%L:6=N M/3-$8F]T=&]M(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=&3TY4 M+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CXF(WA!,#LF(WA! M,#L\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^/&9O;G0@6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/B8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O M='1O;2!A;&EG;CTS1')I9VAT/CQF;VYT('-T>6QE/3-$)T9/3E0M1D%-24Q9 M.B!4:6UEF4],T0R/C$Y+#0S,SPO9F]N=#X\+W1D M/@T*/'1D('9A;&EG;CTS1&)O='1O;2!N;W=R87`],T1N;W=R87`^/&9O;G0@ M6QE/3-$)U1%6%0M24Y$14Y4.B`M,65M M.R!-05)'24XM3$5&5#H@,65M)SX\9F]N="!S='EL93TS1"=&3TY4+49!34E, M63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CX\8CY&:6YI=&4M;&EV960@ M:6YT86YG:6)L90T*87-S971S.CPO8CX\+V9O;G0^/"]P/@T*/"]T9#X-"CQT M9"!V86QI9VX],T1B;W1T;VT^/&9O;G0@F4],T0Q/B8C>$$P M.R8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\+W1D M/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\+W1D/@T*/'1D('9A;&EG;CTS1&)O M='1O;3X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\9F]N="!S:7IE/3-$ M,3XF(WA!,#L\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^/"]T M9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^/"]T9#X-"CQT9"!V86QI9VX],T1B M;W1T;VT^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^/&9O;G0@F4],T0Q/B8C>$$P.R8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG M;CTS1&)O='1O;3X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\+W1D/@T* M/'1D('9A;&EG;CTS1&)O='1O;3X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O M;3X\9F]N="!S:7IE/3-$,3XF(WA!,#L\+V9O;G0^/"]T9#X-"CQT9"!V86QI M9VX],T1B;W1T;VT^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^/"]T9#X- M"CQT9"!V86QI9VX],T1B;W1T;VT^/"]T9#X-"CPO='(^#0H\='(@8F=C;VQO M6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R M/DQI8V5NF4],T0Q/B8C>$$P.R8C>$$P.SPO9F]N=#X\+W1D/@T* M/'1D('9A;&EG;CTS1&)O='1O;3X\9F]N="!S='EL93TS1"=&3TY4+49!34E, M63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CXF(WA!,#L\+V9O;G0^/"]T M9#X-"CQT9"!V86QI9VX],T1B;W1T;VT@86QI9VX],T1R:6=H=#X\9F]N="!S M='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$ M,CXQ-2PX-#<\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT@;F]W M6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UE MF4],T0R/B8C>$$P.R8C>$$P.SPO9F]N=#X\+W1D M/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\9F]N="!S:7IE/3-$,3XF(WA!,#LF M(WA!,#L\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^/&9O;G0@ MF4],T0Q/B8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O M;3X\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N M)R!S:7IE/3-$,CXF(WA!,#L\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B M;W1T;VT@86QI9VX],T1R:6=H=#X\9F]N="!S='EL93TS1"=&3TY4+49!34E, M63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CXY+#`Y,#PO9F]N=#X\+W1D M/@T*/'1D('9A;&EG;CTS1&)O='1O;2!N;W=R87`],T1N;W=R87`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`],T1N;W=R87`^/&9O;G0@ M6QE/3-$)U1%6%0M24Y$14Y4.B`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`],T1N;W=R87`^/&9O;G0@F4] M,T0Q/B8C>$$P.R8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O M='1O;3X\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O M;6%N)R!S:7IE/3-$,CXF(WA!,#L\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX] M,T1B;W1T;VT@86QI9VX],T1R:6=H=#X\9F]N="!S='EL93TS1"=&3TY4+49! M34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CXV+#$Q-CPO9F]N=#X\ M+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;2!N;W=R87`],T1N;W=R87`^/&9O M;G0@F4],T0Q/B8C>$$P.R8C>$$P.SPO9F]N=#X\+W1D M/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\9F]N="!S='EL93TS1"=&3TY4+49! M34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CXF(WA!,#L\+V9O;G0^ M/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT@86QI9VX],T1R:6=H=#X\9F]N M="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE M/3-$,CXH,2PT,#`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`],T1N;W=R87`^/&9O;G0@F4],T0Q/B8C>$$P.R8C M>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\9F]N="!S M='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$ M,CXF(WA!,#L\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT@86QI M9VX],T1R:6=H=#X\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@ M3F5W(%)O;6%N)R!S:7IE/3-$,CXH-C@Q/"]F;VYT/CPO=&0^#0H\=&0@=F%L M:6=N/3-$8F]T=&]M(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=& M3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CXI)B-X03`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`],T1N;W=R87`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`Z(",P,#`P,#`@,7!X('-O;&ED)SXF(WA!,#L\+W`^#0H\+W1D M/@T*/'1D('9A;&EG;CTS1&)O='1O;3X-"CQP('-T>6QE/3-$)T)/4D1%4BU4 M3U`Z(",P,#`P,#`@,7!X('-O;&ED)SXF(WA!,#L\+W`^#0H\+W1D/@T*/'1D M/B8C>$$P.SPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/B8C>$$P.R8C>$$P M.SPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/@T*/'`@$$P.SPO<#X-"CPO=&0^ M#0H\=&0@=F%L:6=N/3-$8F]T=&]M/@T*/'`@$$P.SPO<#X-"CPO=&0^#0H\=&0^ M)B-X03`[/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^)B-X03`[/"]T9#X- M"CQT9"!V86QI9VX],T1B;W1T;VT^#0H\<"!S='EL93TS1"="3U)$15(M5$]0 M.B`C,#`P,#`P(#%P>"!S;VQI9"<^)B-X03`[/"]P/@T*/"]T9#X-"CQT9"!V M86QI9VX],T1B;W1T;VT^#0H\<"!S='EL93TS1"="3U)$15(M5$]0.B`C,#`P M,#`P(#%P>"!S;VQI9"<^)B-X03`[/"]P/@T*/"]T9#X-"CQT9#XF(WA!,#L\ M+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3XF(WA!,#LF(WA!,#L\+W1D/@T* M/'1D('9A;&EG;CTS1&)O='1O;3X-"CQP('-T>6QE/3-$)T)/4D1%4BU43U`Z M(",P,#`P,#`@,7!X('-O;&ED)SXF(WA!,#L\+W`^#0H\+W1D/@T*/'1D('9A M;&EG;CTS1&)O='1O;3X-"CQP('-T>6QE/3-$)T)/4D1%4BU43U`Z(",P,#`P M,#`@,7!X('-O;&ED)SXF(WA!,#L\+W`^#0H\+W1D/@T*/'1D/B8C>$$P.SPO M=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/B8C>$$P.R8C>$$P.SPO=&0^#0H\ M=&0@=F%L:6=N/3-$8F]T=&]M/@T*/'`@$$P.SPO<#X-"CPO=&0^#0H\=&0@=F%L M:6=N/3-$8F]T=&]M/@T*/'`@$$P.SPO<#X-"CPO=&0^#0H\=&0^)B-X03`[/"]T M9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^)B-X03`[/"]T9#X-"CQT9"!V86QI M9VX],T1B;W1T;VT^#0H\<"!S='EL93TS1"="3U)$15(M5$]0.B`C,#`P,#`P M(#%P>"!S;VQI9"<^)B-X03`[/"]P/@T*/"]T9#X-"CQT9"!V86QI9VX],T1B M;W1T;VT^#0H\<"!S='EL93TS1"="3U)$15(M5$]0.B`C,#`P,#`P(#%P>"!S M;VQI9"<^)B-X03`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`],T1N;W=R87`^/&9O;G0@F4],T0Q/B8C>$$P.R8C M>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\9F]N="!S M='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$ M,CXD/"]F;VYT/CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M(&%L:6=N/3-$ MF4],T0Q M/B8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\9F]N M="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE M/3-$,CXD/"]F;VYT/CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M(&%L:6=N M/3-$6QE/3-$)T)/4D1%4BU43U`Z(",P,#`P,#`@,W!X M(&1O=6)L92<^)B-X03`[/"]P/@T*/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T M;VT^#0H\<"!S='EL93TS1"="3U)$15(M5$]0.B`C,#`P,#`P(#-P>"!D;W5B M;&4G/B8C>$$P.SPO<#X-"CPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!V M86QI9VX],T1B;W1T;VT^)B-X03`[)B-X03`[/"]T9#X-"CQT9"!V86QI9VX] M,T1B;W1T;VT^#0H\<"!S='EL93TS1"="3U)$15(M5$]0.B`C,#`P,#`P(#-P M>"!D;W5B;&4G/B8C>$$P.SPO<#X-"CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T M=&]M/@T*/'`@$$P.SPO=&0^#0H\=&0@ M=F%L:6=N/3-$8F]T=&]M/B8C>$$P.SPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T M=&]M/@T*/'`@6QE/3-$)T)/4D1%4BU43U`Z(",P,#`P,#`@,W!X(&1O=6)L92<^ M)B-X03`[/"]P/@T*/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('9A;&EG M;CTS1&)O='1O;3XF(WA!,#LF(WA!,#L\+W1D/@T*/'1D('9A;&EG;CTS1&)O M='1O;3X-"CQP('-T>6QE/3-$)T)/4D1%4BU43U`Z(",P,#`P,#`@,W!X(&1O M=6)L92<^)B-X03`[/"]P/@T*/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^ M#0H\<"!S='EL93TS1"="3U)$15(M5$]0.B`C,#`P,#`P(#-P>"!D;W5B;&4G M/B8C>$$P.SPO<#X-"CPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!V86QI M9VX],T1B;W1T;VT^)B-X03`[)B-X03`[/"]T9#X-"CQT9"!V86QI9VX],T1B M;W1T;VT^#0H\<"!S='EL93TS1"="3U)$15(M5$]0.B`C,#`P,#`P(#-P>"!D M;W5B;&4G/B8C>$$P.SPO<#X-"CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M M/@T*/'`@$$P.SPO=&0^#0H\=&0@=F%L M:6=N/3-$8F]T=&]M/B8C>$$P.SPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M M/@T*/'`@6QE/3-$)T)/4D1%4BU43U`Z(",P,#`P,#`@,W!X(&1O=6)L92<^)B-X M03`[/"]P/@T*/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/"]T'1087)T7SEC-64R.3$S7S`Y8CA?-#(W.5]A-&,W7V4S.34V9CEF,3=A,`T* M0V]N=&5N="U,;V-A=&EO;CH@9FEL93HO+R]#.B\Y8S5E,CDQ,U\P.6(X7S0R M-SE?831C-U]E,SDU-F8Y9C$W83`O5V]R:W-H965T'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA#L@34%21TE.+4)/5%1/33H@,'!X)SX\9F]N="!S M='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$ M,CX\8CY.3U1%($0@)B-X,C`Q-#L-"D1%0E0\+V(^/"]F;VYT/CPO<#X-"CQP M('-T>6QE/3-$)TU!4D=)3BU43U`Z(#9P>#L@34%21TE.+4)/5%1/33H@,'!X M)SX\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N M)R!S:7IE/3-$,CX\:3Y2979O;'9I;F<@0W)E9&ET#0I&86-I;&ET>3PO:3X\ M+V9O;G0^/"]P/@T*/'`@6QE/3-$)T9/3E0M1D%-24Q9.B!4 M:6UEF4],T0R/E1H92!#;VUP86YY(&AA6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UE MF4],T0R/D)O$$P.W1H92!%=7)O9&]L;&%R(%)A=&4L M(&1E9FEN960@87,@=&AE#0I!9&IU$$P.S,Q M+"`R,#$R(')A;F=E9"!F7,@82!C;VUM:71M96YT(&9E92!O9B`P+C,W M-24@=&\@,"XU,"4@;VX-"G1H92!U;G5S960@<&]R=&EO;B!O9B!T:&4@4F5V M;VQV:6YG($-R961I="!&86-I;&ET>2X\+V9O;G0^/"]P/@T*/'`@#L@34%21TE.+4)/5%1/33H@,'!X)SX\9F]N M="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE M/3-$,CY!="!-87)C:"8C>$$P.S,Q+"`R,#$R+"!T:&4-"D-O;7!A;GD@:&%D M("0Q+C(@;6EL;&EO;B!O9B!O<&5N(&QE='1E2X@079A:6QA8FEL:71Y M('5N9&5R('1H92!2979O;'9I;F<@0W)E9&ET($9A8VEL:71Y('=A2`D-S(N,2!M:6QL:6]N+"!O6QE/3-$)TU!4D=)3BU43U`Z(#$R<'@[($U!4D=) M3BU"3U143TTZ(#!P>"<^/&9O;G0@$$P.S,Q+"`R,#$R(&%N9"!$96-E;6)E$$P M.S,Q+`T*,C`Q,2P@=&AE($-O;7!A;GD@8VQA2!F2P@=6YD M97(@=&AE(&9A8VEL:71Y(&)A6QE/3-$)TU!4D=)3BU43U`Z(#$X<'@[ M($U!4D=)3BU"3U143TTZ(#!P>"<^/&9O;G0@"<^/&9O;G0@#(P,4,[5&5R;2!,;V%N)B-X,C`Q1#LI+`T*=VAI8V@@;6%T=7)E M"<^/&9O;G0@2!T:&4@;&5N9&5R(&%N M9"!T:&4@1F5D97)A;"!&=6YD$$P.W1H M92!!9&IU$$P.S,Q+"`R,#$R#0IW87,@,3`N,"4N/"]F;VYT/CPO<#X-"CQP M('-T>6QE/3-$)TU!4D=)3BU43U`Z(#$R<'@[($U!4D=)3BU"3U143TTZ(#!P M>"<^/&9O;G0@3X-"CPO:'1M;#X- M"@T*+2TM+2TM/5].97AT4&%R=%\Y8S5E,CDQ,U\P.6(X7S0R-SE?831C-U]E M,SDU-F8Y9C$W83`-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO.6,U M93(Y,3-?,#EB.%\T,C'0O:'1M;#L@8VAA6QE M/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/CQB M/DY/5$4@13PO8CX@)B-X,C`Q-#L-"CQB/E-43T-+($-/35!%3E-!5$E/3CPO M8CX\+V9O;G0^/"]P/@T*/'`@6QE/3-$)T9/3E0M1D%-24Q9 M.B!4:6UEF4],T0R/D$@2!O9B!T:&4- M"D-O;7!A;GDF(W@R,#$Y.W,@$$P.S,Q+"`R,#$R(&ES(&%S#0IF;VQL;W=S.CPO9F]N=#X\ M+W`^#0H\<"!S='EL93TS1"=-05)'24XM5$]0.B`P<'@[($U!4D=)3BU"3U14 M3TTZ(#!P>#L@1D].5"U325I%.B`Q,G!X)SX-"B8C>$$P.SPO<#X-"CQT86)L M92!S='EL93TS1"="3U)$15(M0T],3$%04T4Z(&-O;&QA<'-E)R!B;W)D97(] M,T0P(&-E;&QS<&%C:6YG/3-$,"!C96QL<&%D9&EN9STS1#`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`P M,#`@,7!X('-O;&ED)R!V86QI9VX],T1B;W1T;VT@8V]LF4] M,T0Q/B8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU" M3U143TTZ(",P,#`P,#`@,7!X('-O;&ED)R!V86QI9VX],T1B;W1T;VT@8V]L M&5R8VES928C>$$P.W!R:6-E/"]B M/CPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\9F]N="!S:7IE M/3-$,3XF(WA!,#L\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^ M/&9O;G0@F4],T0Q/B8C>$$P.R8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D M('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(",P,#`P,#`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`M,65M.R!- M05)'24XM3$5&5#H@,V5M)SX\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@ M5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CY'6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/B8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O M;2!A;&EG;CTS1')I9VAT/CQF;VYT('-T>6QE/3-$)T9/3E0M1D%-24Q9.B!4 M:6UEF4],T0R/B8C>#(P,30[)B-X03`[)B-X03`[ M/"]F;VYT/CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M(&YO=W)A<#TS1&YO M=W)A<#X\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O M;6%N)R!S:7IE/3-$,CXF(WA!,#LF(WA!,#L\+V9O;G0^/"]T9#X-"CQT9"!V M86QI9VX],T1B;W1T;VT^/&9O;G0@6QE/3-$)T9/3E0M M1D%-24Q9.B!4:6UEF4],T0R/B8C>$$P.SPO9F]N M=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;2!A;&EG;CTS1')I9VAT/CQF M;VYT('-T>6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/B8C>#(P,30[)B-X03`[)B-X03`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`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`M M,65M.R!-05)'24XM3$5&5#H@,V5M)SX\9F]N="!S='EL93TS1"=&3TY4+49! M34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CY#86YC96QL871I;VYS M/"]F;VYT/CPO<#X-"CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/CQF;VYT M('-I>F4],T0Q/B8C>$$P.R8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG M;CTS1&)O='1O;3X\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@ M3F5W(%)O;6%N)R!S:7IE/3-$,CXF(WA!,#L\+V9O;G0^/"]T9#X-"CQT9"!V M86QI9VX],T1B;W1T;VT@86QI9VX],T1R:6=H=#X\9F]N="!S='EL93TS1"=& M3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CXH,C`P/"]F M;VYT/CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M(&YO=W)A<#TS1&YO=W)A M<#X\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N M)R!S:7IE/3-$,CXI)B-X03`[/"]F;VYT/CPO=&0^#0H\=&0@=F%L:6=N/3-$ M8F]T=&]M/CQF;VYT('-I>F4],T0Q/B8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D M('9A;&EG;CTS1&)O='1O;3X\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@ M5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CXF(WA!,#L\+V9O;G0^/"]T9#X- M"CQT9"!V86QI9VX],T1B;W1T;VT@86QI9VX],T1R:6=H=#X\9F]N="!S='EL M93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CXR M,BXT-CPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;2!N;W=R87`] M,T1N;W=R87`^/&9O;G0@F4],T0Q/B8C>$$P.R8C>$$P M.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\+W1D/@T*/'1D M('9A;&EG;CTS1&)O='1O;3X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\ M+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\9F]N="!S:7IE/3-$,3XF(WA! M,#LF(WA!,#L\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^/"]T M9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^/"]T9#X-"CQT9"!V86QI9VX],T1B M;W1T;VT^/"]T9#X-"CPO='(^#0H\='(@6QE/3-$)T)/4D1%4BU43U`Z(",P,#`P,#`@,7!X('-O;&ED M)SXF(WA!,#L\+W`^#0H\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X-"CQP M('-T>6QE/3-$)T)/4D1%4BU43U`Z(",P,#`P,#`@,7!X('-O;&ED)SXF(WA! M,#L\+W`^#0H\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@=F%L:6=N/3-$ M8F]T=&]M/B8C>$$P.SPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/CPO=&0^ M#0H\=&0@=F%L:6=N/3-$8F]T=&]M/CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T M=&]M/CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/B8C>$$P.R8C>$$P.SPO M=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/CPO=&0^#0H\=&0@=F%L:6=N/3-$ M8F]T=&]M/CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/CPO=&0^#0H\=&0@ M=F%L:6=N/3-$8F]T=&]M/B8C>$$P.R8C>$$P.SPO=&0^#0H\=&0@=F%L:6=N M/3-$8F]T=&]M/CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/CPO=&0^#0H\ M=&0@=F%L:6=N/3-$8F]T=&]M/CPO=&0^#0H\+W1R/@T*/'1R(&)G8V]L;W(] M,T0C0T-%149&/@T*/'1D('9A;&EG;CTS1'1O<#X-"CQP('-T>6QE/3-$)U1% M6%0M24Y$14Y4.B`M,65M.R!-05)'24XM3$5&5#H@,65M)SX\9F]N="!S='EL M93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CX\ M8CY/<'1I;VYS(&]U='-T86YD:6YG+`T*36%R8V@F(WA!,#LS,2P@,C`Q,CPO M8CX\+V9O;G0^/"]P/@T*/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^/&9O M;G0@6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UE MF4],T0R/B8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D M('9A;&EG;CTS1&)O='1O;2!A;&EG;CTS1')I9VAT/CQF;VYT('-T>6QE/3-$ M)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/C(L-#8X M+#`U,#PO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;2!N;W=R87`] M,T1N;W=R87`^/&9O;G0@F4],T0Q/B8C>$$P.SPO9F]N M=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\9F]N="!S='EL93TS1"=& M3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CXF(WA!,#L\ M+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT@86QI9VX],T1R:6=H M=#X\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N M)R!S:7IE/3-$,CXQ,BXV-3PO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O M='1O;2!N;W=R87`],T1N;W=R87`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`@6QE/3-$)T)/ M4D1%4BU43U`Z(",P,#`P,#`@,W!X(&1O=6)L92<^)B-X03`[/"]P/@T*/"]T M9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3XF(WA! M,#L\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\+W1D/@T*/'1D('9A;&EG M;CTS1&)O='1O;3X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\+W1D/@T* M/'1D('9A;&EG;CTS1&)O='1O;3XF(WA!,#LF(WA!,#L\+W1D/@T*/'1D('9A M;&EG;CTS1&)O='1O;3X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\+W1D M/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\+W1D/@T*/'1D('9A;&EG;CTS1&)O M='1O;3XF(WA!,#LF(WA!,#L\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X- M"CQP('-T>6QE/3-$)T)/4D1%4BU43U`Z(",P,#`P,#`@,W!X(&1O=6)L92<^ M)B-X03`[/"]P/@T*/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^#0H\<"!S M='EL93TS1"="3U)$15(M5$]0.B`C,#`P,#`P(#-P>"!D;W5B;&4G/B8C>$$P M.SPO<#X-"CPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CPO='(^#0H\='(^#0H\ M=&0@=F%L:6=N/3-$=&]P/@T*/'`@6QE/3-$)T9/3E0M1D%- M24Q9.B!4:6UEF4],T0R/CQB/D]P=&EO;G,@97AE M$$P.S,Q+"`R,#$R/"]B/CPO9F]N=#X\+W`^ M#0H\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\9F]N="!S:7IE/3-$,3XF M(WA!,#LF(WA!,#L\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^ M/&9O;G0@6QE/3-$)T9/3E0M1D%-24Q9.B!4 M:6UEF4],T0R/B8C>$$P.SPO9F]N=#X\+W1D/@T* M/'1D('9A;&EG;CTS1&)O='1O;2!A;&EG;CTS1')I9VAT/CQF;VYT('-T>6QE M/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/C$T M+C`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`],T1N;W=R87`^/&9O M;G0@6QE/3-$)T9/3E0M4TE:13H@,7!X)SX-"CQT9"!V86QI9VX],T1B;W1T;VT^ M/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^)B-X03`[)B-X03`[/"]T9#X- M"CQT9"!V86QI9VX],T1B;W1T;VT^#0H\<"!S='EL93TS1"="3U)$15(M5$]0 M.B`C,#`P,#`P(#-P>"!D;W5B;&4G/B8C>$$P.SPO<#X-"CPO=&0^#0H\=&0@ M=F%L:6=N/3-$8F]T=&]M/@T*/'`@$$P M.SPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/B8C>$$P.SPO=&0^#0H\=&0@ M=F%L:6=N/3-$8F]T=&]M/CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/CPO M=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/CPO=&0^#0H\=&0@=F%L:6=N/3-$ M8F]T=&]M/B8C>$$P.R8C>$$P.SPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M M/CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/CPO=&0^#0H\=&0@=F%L:6=N M/3-$8F]T=&]M/CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/B8C>$$P.R8C M>$$P.SPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/@T*/'`@6QE/3-$)T)/4D1% M4BU43U`Z(",P,#`P,#`@,W!X(&1O=6)L92<^)B-X03`[/"]P/@T*/"]T9#X- M"CQT9#XF(WA!,#L\+W1D/@T*/"]T6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4] M,T0R/E1H92!A9V=R96=A=&4@:6YT"!I;G1R:6YS M:6,-"G9A;'5E('1H870@=V]U;&0@:&%V92!B965N(')E8V5I=F5D(&)Y('1H M92!O<'1I;VX@:&]L9&5R&5R M8VES960@=&AE:7(@$$P.S,Q+`T* M,C`Q,BX@5&AE(&EN=')I;G-I8R!V86QU92!I2!S=&]C:PT*;W!T:6]N(&%S('1H92!D:69F97)E M;F-E(&)E='=E96X@=&AE(&-L;W-I;F<@<')I8V4@;V8@=&AE#0I#;VUP86YY M)B-X,C`Q.3MS(&-O;6UO;B!S=&]C:R!O;B!-87)C:"8C>$$P.S,P+"`R,#$R M(&%N9"!T:&4-"F5X97)C:7-E('!R:6-E+CPO9F]N=#X\+W`^#0H\<"!S='EL M93TS1"=-05)'24XM5$]0.B`Q,G!X.R!-05)'24XM0D]45$]-.B`P<'@G/CQF M;VYT('-T>6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/E1H92!T;W1A;"!I;G1R:6YS:6,@=F%L=64-"F]F('-T;V-K(&]P M=&EO;G,@97AE$$P.S,Q+"`R,#$R(&%N9"`R,#$Q('=A6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/E1H92!#;VUP86YY(')E8V]G;FEZ960-"G-T;V-K(&-O;7!E M;G-A=&EO;B!E>'!E;G-E(&]F("0V.3@L,#`P(&%N9"`D-S0X+#`P,"!F;W(@ M=&AE('1H6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4] M,T0R/E1O=&%L('5N$$P M.S,Q+"`R,#$R+"!B969O'!E8W1E9"!T;R!B92!R96-O M9VYI>F5D(&]V97(@82!W96EG:'1E9"UA=F5R86=E#0IP97)I;V0@;V8@,2XR M-R!Y96%R#L@34%21TE.+4)/5%1/33H@,'!X)SX\9F]N="!S='EL93TS1"=&3TY4 M+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CY!="!-87)C:"8C M>$$P.S,Q+"`R,#$R+`T*=&AEF5D#0IC;VUP96YS871I M;VX@8V]S="!O9B`D,BXP(&UI;&QI;VX@9F]R('1H97-E(&]P=&EO;G,@=VEL M;"!B90T*65A7!E.B!T97AT+VAT;6P[(&-H M87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U% M5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O M:'1M;#L@8VAA6QE/3-$)T9/3E0M1D%-24Q9.B!4 M:6UEF4],T0R/CQB/DY/5$4@1B`F(W@R,#$T.R!) M3D-/344-"BA,3U-3*2!015(@0T]-34].(%-(05)%/"]B/CPO9F]N=#X\+W`^ M#0H\<"!S='EL93TS1"=-05)'24XM5$]0.B`V<'@[($U!4D=)3BU"3U143TTZ M(#!P>"<^/&9O;G0@28C>#(P,3D[6QE/3-$)TU!4D=)3BU43U`Z(#!P>#L@ M34%21TE.+4)/5%1/33H@,'!X.R!&3TY4+5-)6D4Z(#$R<'@G/@T*)B-X03`[ M/"]P/@T*/'1A8FQE('-T>6QE/3-$)T)/4D1%4BU#3TQ,05!313H@8V]L;&%P MF4],T0Q/B8C>$$P.SPO9F]N=#X\+W1D/@T* M/'1D('9A;&EG;CTS1&)O='1O;3X\9F]N="!S:7IE/3-$,3XF(WA!,#LF(WA! M,#L\+V9O;G0^/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B`C M,#`P,#`P(#%P>"!S;VQI9"<@=F%L:6=N/3-$8F]T=&]M(&-O;'-P86X],T0V M(&%L:6=N/3-$8V5N=&5R/CQF;VYT('-T>6QE/3-$)T9/3E0M1D%-24Q9.B!4 M:6UEF4],T0Q/CQB/E1HF4],T0Q/B8C>$$P.SPO9F]N=#X\+W1D/@T*/"]TF4],T0Q/B8C M>$$P.R8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU" M3U143TTZ(",P,#`P,#`@,7!X('-O;&ED)R!V86QI9VX],T1B;W1T;VT@8V]L MF4],T0Q/B8C>$$P.R8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('-T M>6QE/3-$)T)/4D1%4BU"3U143TTZ(",P,#`P,#`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`[/"]F;VYT/CPO=&0^#0H\+W1R/@T*/'1R/@T*/'1D/CPO=&0^#0H\=&0@ M8V]L#(P,3,[ M(&)A6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4] M,T0R/B8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;2!A M;&EG;CTS1')I9VAT/CQF;VYT('-T>6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UE MF4],T0R/C$R+#`V-CPO9F]N=#X\+W1D/@T*/'1D M('9A;&EG;CTS1&)O='1O;2!N;W=R87`],T1N;W=R87`^/&9O;G0@6QE/3-$)U1%6%0M M24Y$14Y4.B`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`@6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/E-T;V-K(&]P=&EO;G,\+V9O;G0^/"]P/@T*/"]T M9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^/&9O;G0@6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4] M,T0R/B8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;2!A M;&EG;CTS1')I9VAT/CQF;VYT('-T>6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UE MF4],T0R/C,S,SPO9F]N=#X\+W1D/@T*/'1D('9A M;&EG;CTS1&)O='1O;2!N;W=R87`],T1N;W=R87`^/&9O;G0@F4],T0Q/B8C>$$P.R8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG M;CTS1&)O='1O;3X\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@ M3F5W(%)O;6%N)R!S:7IE/3-$,CXF(WA!,#L\+V9O;G0^/"]T9#X-"CQT9"!V M86QI9VX],T1B;W1T;VT@86QI9VX],T1R:6=H=#X\9F]N="!S='EL93TS1"=& M3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CXF(W@R,#$T M.R8C>$$P.R8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O M;2!N;W=R87`],T1N;W=R87`^/&9O;G0@6QE/3-$)T9/3E0M4TE:13H@,7!X)SX- M"CQT9"!V86QI9VX],T1B;W1T;VT^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T M;VT^)B-X03`[)B-X03`[/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^#0H\ M<"!S='EL93TS1"="3U)$15(M5$]0.B`C,#`P,#`P(#%P>"!S;VQI9"<^)B-X M03`[/"]P/@T*/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^#0H\<"!S='EL M93TS1"="3U)$15(M5$]0.B`C,#`P,#`P(#%P>"!S;VQI9"<^)B-X03`[/"]P M/@T*/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O M;3XF(WA!,#LF(WA!,#L\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X-"CQP M('-T>6QE/3-$)T)/4D1%4BU43U`Z(",P,#`P,#`@,7!X('-O;&ED)SXF(WA! M,#L\+W`^#0H\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X-"CQP('-T>6QE M/3-$)T)/4D1%4BU43U`Z(",P,#`P,#`@,7!X('-O;&ED)SXF(WA!,#L\+W`^ M#0H\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\+W1R/@T*/'1R(&)G8V]L;W(] M,T0C0T-%149&/@T*/'1D('9A;&EG;CTS1'1O<#X-"CQP('-T>6QE/3-$)U1% M6%0M24Y$14Y4.B`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`@6QE/3-$)T)/4D1%4BU43U`Z(",P,#`P,#`@ M,W!X(&1O=6)L92<^)B-X03`[/"]P/@T*/"]T9#X-"CQT9#XF(WA!,#L\+W1D M/@T*/'1D('9A;&EG;CTS1&)O='1O;3XF(WA!,#LF(WA!,#L\+W1D/@T*/'1D M('9A;&EG;CTS1&)O='1O;3X-"CQP('-T>6QE/3-$)T)/4D1%4BU43U`Z(",P M,#`P,#`@,W!X(&1O=6)L92<^)B-X03`[/"]P/@T*/"]T9#X-"CQT9"!V86QI M9VX],T1B;W1T;VT^#0H\<"!S='EL93TS1"="3U)$15(M5$]0.B`C,#`P,#`P M(#-P>"!D;W5B;&4G/B8C>$$P.SPO<#X-"CPO=&0^#0H\=&0^)B-X03`[/"]T M9#X-"CPO='(^#0H\='(^#0H\=&0@=F%L:6=N/3-$=&]P/@T*/'`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`Z(",P,#`P,#`@,W!X(&1O=6)L92<^)B-X03`[/"]P/@T* M/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^#0H\<"!S='EL93TS1"="3U)$ M15(M5$]0.B`C,#`P,#`P(#-P>"!D;W5B;&4G/B8C>$$P.SPO<#X-"CPO=&0^ M#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^)B-X03`[ M)B-X03`[/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^#0H\<"!S='EL93TS M1"="3U)$15(M5$]0.B`C,#`P,#`P(#-P>"!D;W5B;&4G/B8C>$$P.SPO<#X- M"CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/@T*/'`@$$P.SPO=&0^#0H\+W1R/@T*/'1R(&)G8V]L;W(],T0C0T-% M149&/@T*/'1D('9A;&EG;CTS1'1O<#X-"CQP('-T>6QE/3-$)U1%6%0M24Y$ M14Y4.B`M,65M.R!-05)'24XM3$5&5#H@,65M)SX\9F]N="!S='EL93TS1"=& M3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CX\8CY$:6QU M=&5D(&EN8V]M92`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`Z(",P,#`P,#`@,W!X(&1O=6)L92<^)B-X03`[/"]P/@T*/"]T9#X-"CQT M9"!V86QI9VX],T1B;W1T;VT^#0H\<"!S='EL93TS1"="3U)$15(M5$]0.B`C M,#`P,#`P(#-P>"!D;W5B;&4G/B8C>$$P.SPO<#X-"CPO=&0^#0H\=&0^)B-X M03`[/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^)B-X03`[)B-X03`[/"]T M9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^#0H\<"!S='EL93TS1"="3U)$15(M M5$]0.B`C,#`P,#`P(#-P>"!D;W5B;&4G/B8C>$$P.SPO<#X-"CPO=&0^#0H\ M=&0@=F%L:6=N/3-$8F]T=&]M/@T*/'`@$$P.SPO=&0^#0H\+W1R/@T*/"]T86)L93X-"CQP('-T>6QE/3-$)TU!4D=) M3BU43U`Z(#$R<'@[($U!4D=)3BU"3U143TTZ(#!P>"<^/&9O;G0@2X@5&AE3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Y8S5E M,CDQ,U\P.6(X7S0R-SE?831C-U]E,SDU-F8Y9C$W83`-"D-O;G1E;G0M3&]C M871I;VXZ(&9I;&4Z+R\O0SHO.6,U93(Y,3-?,#EB.%\T,C'0O:'1M;#L@8VAA6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/CQB/DY/5$4@1R`F(W@R,#$S.R!)3D-/344-"E1!6$53/"]B/CPO M9F]N=#X\+W`^#0H\<"!S='EL93TS1"=-05)'24XM5$]0.B`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`T*=&AE(&9O;&QO=VEN9R!J=7)I#(P,4,[;6%J;W(F(W@R,#%$.R!T87@-"FIU2P-"DYE=R!9;W)K(&%N9"!096YN"!E>&%M:6YA=&EO;G,@9F]R('1H92!Y96%R6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/E1H92!#;VUP86YY)B-X,C`Q.3MS('!O;&EC>0T* M9F]R(')E8V]R9&EN9R!I;G1E$$P.S,Q+"`R M,#$R#0IA;F0@,C`Q,2X\+V9O;G0^/"]P/@T*/"]D:78^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`\+W1R/@T*("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X- M"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Y8S5E,CDQ,U\P.6(X7S0R M-SE?831C-U]E,SDU-F8Y9C$W83`-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z M+R\O0SHO.6,U93(Y,3-?,#EB.%\T,C'0O:'1M M;#L@8VAA#L@34%21TE.+4)/5%1/33H@,'!X)SX\9F]N M="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE M/3-$,CX\8CY.3U1%($@@)B-X,C`Q,SL@0E5324Y%4U,-"E-%1TU%3E13/"]B M/CPO9F]N=#X\+W`^#0H\<"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,'!X M.R!-05)'24XM5$]0.B`V<'@[($U!4D=)3BU"3U143TTZ(#!P>"<^#0H\9F]N M="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE M/3-$,CY4:&4@0V]M<&%N>0T*;W!E0T*;6%R:V5T6QE/3-$)T9/3E0M1D%-24Q9.B!4 M:6UEF4],T0Q/CQS=7`@$%%.SPO6QE/3-$)U!/4TE424]..B!R96QA=&EV93L@0D]45$]-.B`P M+CAE>#L@5D525$E#04PM04Q)1TXZ(&)A#(Q,C([(&%N9"!,:69E=&EM M92!3=&5R;&EN9R8C>#(Q,C([($EN=&5R;F5T#0IW96)S:71E#L@34%21TE.+4)/ M5%1/33H@,'!X)SX\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@ M3F5W(%)O;6%N)R!S:7IE/3-$,CY4:&4@0V]M<&%N>2!H87,@&5C=71I=F4@ M6QE/3-$)TU! M4D=)3BU43U`Z(#!P>#L@34%21TE.+4)/5%1/33H@,'!X.R!&3TY4+5-)6D4Z M(#$R<'@G/@T*)B-X03`[/"]P/@T*/'1A8FQE('-T>6QE/3-$)T)/4D1%4BU# M3TQ,05!313H@8V]L;&%PF4],T0Q/B8C>$$P M.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\9F]N="!S:7IE M/3-$,3XF(WA!,#LF(WA!,#L\+V9O;G0^/"]T9#X-"CQT9"!S='EL93TS1"=" M3U)$15(M0D]45$]-.B`C,#`P,#`P(#%P>"!S;VQI9"<@=F%L:6=N/3-$8F]T M=&]M(&-O;'-P86X],T0V(&%L:6=N/3-$8V5N=&5R/CQF;VYT('-T>6QE/3-$ M)T9/3E0M1D%-24Q9.B!4:6UEF4],T0Q/CQB/E1H MF4],T0Q/B8C>$$P.SPO9F]N=#X\+W1D/@T* M/"]TF4],T0Q/B8C>$$P.R8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('-T M>6QE/3-$)T)/4D1%4BU"3U143TTZ(",P,#`P,#`@,7!X('-O;&ED)R!V86QI M9VX],T1B;W1T;VT@8V]LF4],T0Q/B8C>$$P.SPO9F]N=#X\+W1D M/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(",P,#`P,#`@,7!X('-O M;&ED)R!V86QI9VX],T1B;W1T;VT@8V]L6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0Q/BAI;B!T:&]UF4],T0Q/B8C>$$P.SPO9F]N=#X\+W1D/@T* M/"]T6QE/3-$)U1%6%0M24Y$14Y4.B`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`@$$P.SPO<#X-"CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/@T* M/'`@$$P.SPO<#X-"CPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!V86QI9VX] M,T1B;W1T;VT^)B-X03`[/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^#0H\ M<"!S='EL93TS1"="3U)$15(M5$]0.B`C,#`P,#`P(#%P>"!S;VQI9"<^)B-X M03`[/"]P/@T*/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^#0H\<"!S='EL M93TS1"="3U)$15(M5$]0.B`C,#`P,#`P(#%P>"!S;VQI9"<^)B-X03`[/"]P M/@T*/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/"]TF4],T0Q/B8C>$$P.R8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS M1&)O='1O;3X\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W M(%)O;6%N)R!S:7IE/3-$,CXD/"]F;VYT/CPO=&0^#0H\=&0@=F%L:6=N/3-$ M8F]T=&]M(&%L:6=N/3-$F4],T0Q/B8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D M('9A;&EG;CTS1&)O='1O;3X\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@ M5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CXD/"]F;VYT/CPO=&0^#0H\=&0@ M=F%L:6=N/3-$8F]T=&]M(&%L:6=N/3-$6QE/3-$)T)/ M4D1%4BU43U`Z(",P,#`P,#`@,W!X(&1O=6)L92<^)B-X03`[/"]P/@T*/"]T M9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^#0H\<"!S='EL93TS1"="3U)$15(M M5$]0.B`C,#`P,#`P(#-P>"!D;W5B;&4G/B8C>$$P.SPO<#X-"CPO=&0^#0H\ M=&0^)B-X03`[/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^)B-X03`[/"]T M9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^#0H\<"!S='EL93TS1"="3U)$15(M M5$]0.B`C,#`P,#`P(#-P>"!D;W5B;&4G/B8C>$$P.SPO<#X-"CPO=&0^#0H\ M=&0@=F%L:6=N/3-$8F]T=&]M/@T*/'`@$$P.SPO=&0^#0H\+W1R/@T*/'1R(&)G8V]L;W(],T0C0T-%149&/@T*/'1D M('9A;&EG;CTS1'1O<#X-"CQP('-T>6QE/3-$)U1%6%0M24Y$14Y4.B`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`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`],T1N;W=R87`^/&9O;G0@6QE/3-$)U1%6%0M24Y$14Y4.B`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`],T1N;W=R87`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`Z(",P,#`P,#`@,7!X('-O;&ED M)SXF(WA!,#L\+W`^#0H\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X-"CQP M('-T>6QE/3-$)T)/4D1%4BU43U`Z(",P,#`P,#`@,7!X('-O;&ED)SXF(WA! M,#L\+W`^#0H\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@=F%L:6=N/3-$ M8F]T=&]M/B8C>$$P.SPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/@T*/'`@ M$$P M.SPO<#X-"CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/@T*/'`@$$P.SPO<#X- M"CPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@8F=C;VQO6QE M/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/E1O M=&%L(&EN8V]M92`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`Z(",P,#`P,#`@ M,W!X(&1O=6)L92<^)B-X03`[/"]P/@T*/"]T9#X-"CQT9"!V86QI9VX],T1B M;W1T;VT^#0H\<"!S='EL93TS1"="3U)$15(M5$]0.B`C,#`P,#`P(#-P>"!D M;W5B;&4G/B8C>$$P.SPO<#X-"CPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT M9"!V86QI9VX],T1B;W1T;VT^)B-X03`[/"]T9#X-"CQT9"!V86QI9VX],T1B M;W1T;VT^#0H\<"!S='EL93TS1"="3U)$15(M5$]0.B`C,#`P,#`P(#-P>"!D M;W5B;&4G/B8C>$$P.SPO<#X-"CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M M/@T*/'`@$$P.SPO=&0^#0H\+W1R/@T* M/'1R/@T*/'1D('9A;&EG;CTS1'1O<#X-"CQP('-T>6QE/3-$)U1%6%0M24Y$ M14Y4.B`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`],T1N;W=R87`^/&9O;G0@ M$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\ M9F]N="!S:7IE/3-$,3XF(WA!,#L\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX] M,T1B;W1T;VT^/&9O;G0@6QE/3-$)T9/3E0M1D%- M24Q9.B!4:6UEF4],T0R/B@Q+#DW-3PO9F]N=#X\ M+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;2!N;W=R87`],T1N;W=R87`^/&9O M;G0@$$P.SPO9F]N=#X\+W1D/@T*/"]TF4],T0Q/B8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG M;CTS1&)O='1O;3X\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@ M3F5W(%)O;6%N)R!S:7IE/3-$,CXF(WA!,#L\+V9O;G0^/"]T9#X-"CQT9"!V M86QI9VX],T1B;W1T;VT@86QI9VX],T1R:6=H=#X\9F]N="!S='EL93TS1"=& M3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CXH,C`\+V9O M;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT@;F]W6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/BDF(WA!,#L\+V9O;G0^/"]T9#X-"CPO='(^#0H\='(@6QE/3-$)T)/4D1%4BU43U`Z M(",P,#`P,#`@,7!X('-O;&ED)SXF(WA!,#L\+W`^#0H\+W1D/@T*/'1D('9A M;&EG;CTS1&)O='1O;3X-"CQP('-T>6QE/3-$)T)/4D1%4BU43U`Z(",P,#`P M,#`@,7!X('-O;&ED)SXF(WA!,#L\+W`^#0H\+W1D/@T*/'1D/B8C>$$P.SPO M=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/B8C>$$P.SPO=&0^#0H\=&0@=F%L M:6=N/3-$8F]T=&]M/@T*/'`@$$P.SPO<#X-"CPO=&0^#0H\=&0@=F%L:6=N/3-$ M8F]T=&]M/@T*/'`@$$P.SPO<#X-"CPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CPO M='(^#0H\='(@8F=C;VQO6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/E1O=&%L(&1E<')E8VEA=&EO;B!A;F0-"F%M;W)T M:7IA=&EO;CPO9F]N=#X\+W`^#0H\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O M;3X\9F]N="!S:7IE/3-$,3XF(WA!,#LF(WA!,#L\+V9O;G0^/"]T9#X-"CQT M9"!V86QI9VX],T1B;W1T;VT^/&9O;G0@6QE/3-$ M)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/B@R+#(P M-SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;2!N;W=R87`],T1N M;W=R87`^/&9O;G0@$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG M;CTS1&)O='1O;3X\9F]N="!S:7IE/3-$,3XF(WA!,#L\+V9O;G0^/"]T9#X- M"CQT9"!V86QI9VX],T1B;W1T;VT^/&9O;G0@6QE M/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/B@Q M+#DY-3PO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;2!N;W=R87`] M,T1N;W=R87`^/&9O;G0@$$P.SPO9F]N=#X\+W1D/@T*/"]T6QE/3-$)T)/4D1%4BU4 M3U`Z(",P,#`P,#`@,W!X(&1O=6)L92<^)B-X03`[/"]P/@T*/"]T9#X-"CQT M9#XF(WA!,#L\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3XF(WA!,#L\+W1D M/@T*/'1D('9A;&EG;CTS1&)O='1O;3X-"CQP('-T>6QE/3-$)T)/4D1%4BU4 M3U`Z(",P,#`P,#`@,W!X(&1O=6)L92<^)B-X03`[/"]P/@T*/"]T9#X-"CQT M9"!V86QI9VX],T1B;W1T;VT^#0H\<"!S='EL93TS1"="3U)$15(M5$]0.B`C M,#`P,#`P(#-P>"!D;W5B;&4G/B8C>$$P.SPO<#X-"CPO=&0^#0H\=&0^)B-X M03`[/"]T9#X-"CPO='(^#0H\+W1A8FQE/@T*/"]D:78^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`\+W1R/@T*("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X- M"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Y8S5E,CDQ,U\P.6(X7S0R M-SE?831C-U]E,SDU-F8Y9C$W83`-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z M+R\O0SHO.6,U93(Y,3-?,#EB.%\T,C'0O:'1M M;#L@8VAA'0^/&1I=CX-"CQP('-T>6QE/3-$)TU!4D=) M3BU43U`Z(#!P>#L@34%21TE.+4)/5%1/33H@,'!X)SX\9F]N="!S='EL93TS M1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CX\8CY. M3U1%($D@)B-X,C`Q-#L-"D-/3E1)3D=%3D-)15,\+V(^/"]F;VYT/CPO<#X- M"CQP('-T>6QE/3-$)TU!4D=)3BU43U`Z(#9P>#L@34%21TE.+4)/5%1/33H@ M,'!X)SX\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O M;6%N)R!S:7IE/3-$,CY786QL86-E(%-I;'9E#(P,4,[5V%L;&%C92!D92!0=65R=&\@4FEC;R8C M>#(P,40[*2P@80T*=VAO;&QY+6]W;F5D('-U8G-I9&EA$4Q.VX@1W)O=6YD#0I7871E6QE/3-$)T9/3E0M1D%-24Q9 M.B!4:6UEF4],T0R/DEN($UA>2`R,#`X+"!786QL M86-E(&1E#0I0=65R=&\@4FEC;R!R96-E:79E9"!F0T*86YD(%)E<75E2!R97-P;VYD960@=&\@=&AE#0I%4$$F(W@R,#$Y M.W,@4F5Q=65S="!F;W(@26YF;W)M871I;VX@;VX@8F5H86QF(&]F(%=A;&QA M8V4@9&4@4'5E$$P.TEN($IU;'D@,C`Q,2P@5V%L;&%C M92!D92!0=65R=&\@4FEC;R!R96-E:79E9"!A(&QE='1E<@T*9G)O;2!T:&4@ M15!!(')E<75E2!T:&%T(&ET M(&QE87-E6QE/3-$)TU!4D=)3BU4 M3U`Z(#$R<'@[($U!4D=)3BU"3U143TTZ(#!P>"<^/&9O;G0@2!T M:&4@15!!('1H870@86YY(')E;65D:6%L(&%C=&EO;B!I2P@:7,@;F]T(&%B;&4@ M=&\@97-T:6UA=&4@=&AE(&5X=&5N=`T*;V8@86YY('!O2X\+V9O;G0^/"]P/@T*/'`@#L@34%21TE.+4)/5%1/33H@,'!X)SX\9F]N="!S='EL93TS1"=&3TY4+49! M34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CY4:&4@0V]M<&%N>2!I M28C M>#(P,3D[3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT M4&%R=%\Y8S5E,CDQ,U\P.6(X7S0R-SE?831C-U]E,SDU-F8Y9C$W83`-"D-O M;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO.6,U93(Y,3-?,#EB.%\T,C'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R#L@34%21TE.+4)/5%1/33H@,'!X)SX\9F]N="!S M='EL93TS1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$ M,CX\8CY.3U1%($H\+V(^("8C>#(P,30[#0H\8CY/5$A%4CPO8CX\+V9O;G0^ M/"]P/@T*/'`@6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0R/CQB/D-A6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UE MF4],T0R/D]N($IA;G5A$$P.S8L(#(P,3(L('1H M92!";V%R9"!O9@T*1&ER96-T;W)S(&1E8VQA6QE/3-$)TU! M4D=)3BU43U`Z(#$X<'@[($U!4D=)3BU"3U143TTZ(#!P>"<^/&9O;G0@6QE/3-$)TU!4D=)3BU43U`Z(#!P>#L@34%21TE. M+4)/5%1/33H@,'!X.R!&3TY4+5-)6D4Z(#$R<'@G/@T*)B-X03`[/"]P/@T* M/'1A8FQE('-T>6QE/3-$)T)/4D1%4BU#3TQ,05!313H@8V]L;&%PF4],T0Q/B8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('9A M;&EG;CTS1&)O='1O;3X\9F]N="!S:7IE/3-$,3XF(WA!,#LF(WA!,#L\+V9O M;G0^/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B`C,#`P,#`P M(#%P>"!S;VQI9"<@=F%L:6=N/3-$8F]T=&]M(&-O;'-P86X],T0V(&%L:6=N M/3-$8V5N=&5R/CQF;VYT('-T>6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UEF4],T0Q/CQB/E1HF4] M,T0Q/B8C>$$P.SPO9F]N=#X\+W1D/@T*/"]TF4],T0Q/B8C>$$P.R8C M>$$P.SPO9F]N=#X\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ M(",P,#`P,#`@,7!X('-O;&ED)R!V86QI9VX],T1B;W1T;VT@8V]LF4],T0Q/B8C>$$P.SPO9F]N=#X\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1% M4BU"3U143TTZ(",P,#`P,#`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`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`],T1N;W=R87`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`@("`\+W1R M/@T*("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T*+2TM+2TM M/5].97AT4&%R=%\Y8S5E,CDQ,U\P.6(X7S0R-SE?831C-U]E,SDU-F8Y9C$W M83`-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO.6,U93(Y,3-?,#EB M.%\T,C&UL#0I#;VYT96YT+51R86YS9F5R+45N8V]D:6YG.B!Q=6]T960M<')I;G1A M8FQE#0I#;VYT96YT+51Y<&4Z('1E>'0O:'1M;#L@8VAA&UL;G,Z;STS1")U&UL/@T*+2TM+2TM/5].97AT4&%R J=%\Y8S5E,CDQ,U\P.6(X7S0R-SE?831C-U]E,SDU-F8Y9C$W83`M+0T* ` end ZIP 14 0001193125-12-211927-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001193125-12-211927-xbrl.zip M4$L#!!0````(`#6!I$#:]Z^9848``+'J`@`1`!P`;&-U="TR,#$R,#,S,2YX M;6Q55`D``X8WI$^&-Z1/=7@+``$$)0X```0Y`0``U%WK<^+(M?_N*O\/?;G) MUJ;*LO5"",_.I'A.2#S&:WOV;O+%U4@-](Z0B%JRS?[U]YR6!$B`C1]B-%M) M>4#=K?/K\SY])'[Y^^/,(__MZ\OB'ZJ$3*-HOGYV=G#P\,IG8*OQOI*BF-E9,RS:5D<9TA;G- M9L.DNM.T&FNS.B&C$:Q(7*#UG.BJIBMJ75&-6UT_U]1S0_W/^NA@O@CY9!J1 MGYV_P6`8"3.TW!Z<`&+GE+0\CUSC4$&NF6#A/7-/TY4>1Z%'8-=]\;&VAAN_ M/@W"R1FL:YSQ=-MJRO\B-?S#D:*W9;)[)J]E0+@)3 MUQI/$9.,6*XM^+:58:AV]ON7BQMGRF94*2)P@$%1N%C.E+<0S#F=!/=GZ<4S MW$Y%U11#RZ:YC&^?`A>V#.?^/1/1]AG)M2V3/">.18LY.X-!"HQB(7>6\YZ?E)\`.CBA=+Z<-*9B)">D M%[;@@2NXDM@Z1U[9,@D)<0M[G;+5.DLNYH9&6X?6DZ%1#22=$"GKWKF0$G'- MQD0*WCF2\+$F^&SNH7C([VCHA('']A-Q.6,:LO''&O).R9AS^BC<5VC`_LIU MEL`"V3OO^1&/%IU@-@O\FRAPOMU,:XVF;M[I=W6X MEUJO?=)TT["-IO'+V7X8$KRIJ)UWJ)BV?!?_]/X;\WOJ@4$7K:A#PW`!HW^C M7LQ>"%M#QN5@I^;F[NM-=QV[8A2@&V9#K[<:;:7>T>J*:70:`+UMPL=VJ]7M MVFI#L^XT5=7O#!60UPT3[OS+V8O`Y/$/HRD+6T*P2%P&OA.'(4QY,9M?BU>S MU$[+LG6EU3)UQ>RW-<7N-&S%ZMK=OFVUZ[;6O(-A1NV3T3#U'-BME.?!==F8 MP=?N+7U,![*H4TV(=NV37K?L',(GR,_C;#D0B,0>.'Q7[@J(_SQD4^8+?L_` M>0HZT7@3VY9.+L,(B:NZ(*.O)>:J/+A@64V5;7`TYWDYU%>LXA"X.GV M:.B#V1)KH@`ZP1U>.6Z:!IICS6[FX#Z/8T./PYBYU1=>K0GFJEFW]*+&;B<_ MC_(J9'/*W=[C''29@;]:L^05Q6O5/M5U.Z^J>\#8X"[F!.*:.0Q\,TA]==T1 MB'-#;ZH;_-T)H`!5[D+50&G@9PRMJ=N-/"Q)[%9-3-P,>)?*:J(.<6!CPW%N MI[T0^:YBY-<$N>6+8$/&]OD`MT!S'M$`LF$_"L(%B&75T&"BHAE6WGH45L>V3A>WK^+3U#&P?ZK=9BHHJ%W@Y2*TMU=AB+[;J5!;:7(#7'XX[ M$+M7+U31P0J:6MVLYP//+927GRF_'NR^F;(F,V73MO(V_Q69\II,7]%P&-Y$ M&,?)@5E[P@!7>?A!V@W@4C6-O,^BIJ+$"M:ZK M=2V/^B6`=M9.U@+ZZM:(=`A9ZZ:>5_/G0!2+!CYXJM3X593+&D9%]6)>O8WR MG041L'M2[:>!Y[)0H/V+%E7#:5I;8_7G8&QDF@G_RXIR'P4_][GWL19!Q/U* MN6TL:_`9V3\`=S"<-9M6,U_O>(X?&V'A0`C(5"H5SZI[Q;,)X4])VX\7(^@; M,<)^B(J[$`!5T>+*HWX$.HIR,,=3\@HF91HPVS!4/1\*/X5@,^$4$5X2`[\U M'H-E@MT1-_%(<)?3$*V4$($COX65_AEP/_H-AL?`L?@\!]X)X',CSP(^I/.`Q;'KM5#B1D.:95-Q(> M[@%@#6D6%%\S:=YR9S(_1JB/*9XI"Q@9^!=C>LIUOX]U@B#)T.N-1],T#0SR M2K!5LKP!>9]>M%9/XWD>^YN+C<^"?WOD+,%;&\'S-CAO"3,/A:2^%Y+W$\IZ M0S?+$$H]J[EI%17('<#?S,8$N'Y`@2P7B;:!I(P*,,`JLP(LH>A-#/,+I;'O MU"NEO1KO?JR3O5*FUOB.O5*E0\0`SVSDD[:*]$J5CEWV2M5M6RM&M]^Q5ZIT MT+)7JMDLM)LJ?'B5ZI4J7X0-&;Y;>07^7KU2Y1MDZ7WL1J.HL=^G5ZIT MO+)7RC*+^N;&2YLMXLI(^5Z)9Z$OU[GH3JU>F6 M*C\6E]U2#;/0'O?=NZ7*!X[G)\7^]LIT2Y5OUK!;RK!WUE`.TRU5?A1;C6ZI M\J79VAJM'[I;ZAF<;R],E](M53YW9+>4I15*EH?IEBHWGE7WBFEBU%]:9=S9:B%/]!6HKTJK44[0O^/1IQ M]%);B@Z,I.26H@TT);84Z55J*=H7^'LTXNBEMA0=&,EF2]'G,!`"0LCQ2RJ_ MS3>^9:FO6IU.OV!WT"GML:S;P97"-X MH^\[9%2P+DO^#OPW=H*_%>5^_5'RH*]8-]@3RT8JXS#FBGX8S*1<#N=80A2] M1Q8Z7+Q$-@\$'9U^LYC,/(TA#QF/=*F8PJQ[[C*WO?@J\"0QR0+`KK2MWA:HN`6:;6X\"/$LEBV-1EM:KOI!R/C$ M3Q(#9W$;4E]0!P4*XDGYR9.OZFRY?\1)UI@U:%VQD`=ND9+#[6"[WK;ZEM94 M;,LV%+,-VVAKW9[2;K>ZFF$V3=MNXPYB]:=P-':HS2AV0' M%ACCR^$2N7SU5Q"/&PL,X+X"SET4:SO'5M16W2!:^!4OG@=1(1_[G7U?P!/F%`LHL""/^IY2%X;C+1E&7"VFN($B<\7A6.3[7 M`:U>:)9Z#D21MP*V`HL3\EB#A??<8>(F\`X88NP90X*%K-N&;128NXO^;8\2 M8N,NQB,=@,;]&&0^%7Y0_C8;@UE="\Z^7=9RFQU1=+D71^\@M; MJ!K-@M#G:-[P]RMQKAP<&6$W"YVQ.9(+@O@(=E"`WK:9SR##EFG85@'NOQV4Y$A>)+FB[B`'!_ZMJ34:^?"^0'2A5I0EKA5VVVB>]3RF+607.,4\#RY_ M!L<64CPP;KDS[G,1X;1[5M6`"TLONEEDX%Y8=KSV);V:>OC*`;:3QT>WI%4; MM._3T/Z]"Y7[AF((6[.U?5X"ND^Y<3-629]PRYH&MC[I5KEMP32JOI%BOP)9 M,5OF\SDHT#^H[Z(B907>.9AY:>2Q`%(]LX>/I:I-4RWDS_M@>?XH,'ERJ8II MBNQD:UK%I/,)"$]5J7Z4^E)3OC_IB>K27G6A]?/"]9H]EC`KQVA\BEX67G>= M>!81O(+/LDB]S%F&81>])A_%U3QYL5\I!$^BW.M`YH>H7U@@+[:]UWG,SGJ% M;*7;M";KS765`RX/HE:-@$]3_R3,0HMH6M!(7:A8=A6NN@DKMQ=8G5`:>OK; M6^\%70]&T[6:OH6I*J]&P%+/=LL`-6GVET5=-5;>Z=JNA)2\- M_U5+?CEO)T$KFB'RP7:YF\5L%+S@4<:GZ-SKQ_[PM;SX7^W31>?K;4)NCI;B M;QA>LXE,U_SHDLY>DHZ\$Z7@:2\&_=[MX$N/M*];E]V;$S*X[*S_1&&>Q!6` M%O#`E7SPZ`L:$]]!%H#H,:@$2ZC,T5'MWJO[06I!85* M?X_7)9*:];W-D;=+Y?[-:'AXA3.PM5K3MZG2XCW)E,VVRJ]Y M,I&*3=H22]'SW2[^./(AB=23O51`:(R"$/ERR$I1WW>^7T([Q`*R]W/%=E+U'GV^>Y')202E& MIFI:>_;YOF>;ZQOQ[?<;.++-5<]7>5[8YXI'$)`37H5,`*NSLOT-G_A\S!T\ MD$G"&_#'5X'''8CP;F$'VAZL_#X2VNLTZKU^LZ4T.MA)U6AU%;NG-96^WNW7 MNYVZKK6LQ&S]Y$4?7'[_TR3Z<'R$'^9$1`O\&>8OK>O/@TOE=GAU3C1]_OB! MI-^TA[>WPR_G1)T_UG`>SAH#U=G$_O#R5NFWO@PN_GU.;OD,PO1+]D"N@QGU M:T3P/QF>_V0S1_B/R^%MC[3(3W0V__"_CP#+_$#:K9O!#1GVCX^NKGLWO$D@.B`W7[\`+?\FK4YG^/7R=G#YF5P-+P:=0>\&ESP;98N?(5W+#_-G M4%KE@AR&$^IGYT[4=X^/1K'`9^O%2XF^`G$%T.M$+@E_%DFRUNNP7*0_BWY\ MU)8_C)[^UOW/D*^L,:_S`<_FJ;]8?=7]\#=030$J`'-$$(<.W`16(()YGH"= MP.7`&'SCD3-E_@,-V0F),#N*@KD<&&!.1.9A@,F"(#&:#NX3O/,T0(IPT(R& MW[!RS.'_JZ&P/9"/X1C(F\&_'I+"'B^`B\B,MP,E#W,.7.E.##U(S+ M>P8//MPK"`FH*F9H[BFYA;NF&+-[)@1(./G;ST,.J?Z<>MZ"(./A!H''!/48 M&:&A(%%P?!3BZ_P@"A/YM<&0!4M0J_4ID#+C&,O!9R9SI^,CP)6[K\M#N`0W MC0*Y2V!8!/ZP/'P(@W@RQ=&@6Q##1G].0CH>OT8LM*6(BW@EGL.;`>KJ.0F9 M)\^`0)LS*3RU&84=$H>&*I:OA86^S3V$6U.CX" M97&EKDNU`2?MRM1IG-3MJ`=W@R^26OV4WH,J,^:#[K&Y;)_AH(^X=.CB^W'( M`Q@2\O7TYI1,DD-2T$JXS.:X)ET&`YFI`.M`QD%X?,21W7RV=EONPX79TH4D M*Z-V3C^U9!<63OB4M&"XGV^.@E M<`ER`NP]6\$]/EIM\RD(O[Q_,.<^WAO(`9;2B;Q\(BFDRXTJ&/0N$!45'^)?D"\XZ/%I"J$"9]=!>V!SUI M9O'4#X9V0K"(>$J6C0\`2,1>)+(5T.LP6&<&JCHE1'`KZ'33!BJ,))T`$LWJNMPLMDU"V2QDO];QMF)=*ZF95^$:#WD=N'C_`^0>,`: M/((9-5@\/)J#7 MO<)*>V4F1&>I>@)E?S'JQHFJJO+.?S'K=?DA9]")M.00D^\RY8FQT`JJ M3"Z7-V>/2:`18=\REYKR,)B1%;J$FY`%I<1*DNBCY`!-WFN`1V>5 MM.A@L<:(X1XD",)]"'/D'@!;P$;!UB3H0#5F0?):2?PWY&@S*9&8Y:WV`;<% MI19R"MP%_)N:L338`7L;"NDM,\^1A2KY^V&XGMX0;K.8@YOUI$U,(\`0I&B2 MQ2TQILAX%!`D#O\>$W`71#KB<(_)"=QKX4+B#-IZ'WB@C\"K$;[%*5/GY'PO MI03FKJ^.0ZA/\!GJ&19MEXX*%",._4QQQZE@4($JXV;!;TZFGPI[=D5J:U$5 MW#E8/BQ50:N/W50RTY)HJV?O4_I29J0!.0I:9CSAFB.[VVCVGJ^UG";U#5FB M`1\A3I&6R&_"8$$]V3<@Y3U7 M4EI?/BD!8/(WI>&DDDGV>@_-\1%+>P>J)P'K=)*,S&5N1G*2@%4/2(@DQ[*A M)RN7EPA*4E=(:UP"'V*E*]8K01PMI[Z":[JY?1,^$(GX9O"?'K!V54A=>KJ] M5E?+%8GE^]ZK)P5+TC(;(*016-5%QYC5!E9!&+2WA@?7EWOU:<1JSI(RP)%1TDJ((KNP%#TD1&L7Y^.CG,0_% M_[-WI;V-XTC[NP'_!R+;`R2`[+9\>QHS@*_T9-"=!'%Z9[\M9$M)]*YL>70D MG?GU;U61U.$K3N)#4@3,H&U'$LFJ8K%88CV/5S)AB\(_H0537O@,4\X\]\NF M=*0NGAN6RZ/+XUZ7G\+GK3&1#`YV/3SS+%T=="7XB$W!IA(KZO`B'HURT#GY M2&/V:#KV##TC#(UOMF3KNKR*%`HMPX#Y$"&$FXF$D;3+A>77]92HL!DMXG(\ MCP2H&^2+/,?*MFCBY,5ZF$VRY[)*"*R_<3@1<.],L)GN[^^ MOM-KW$C<1U6W<%+T?D6VT+NZ&0QO2OVK;]^ZUR-X!$;>VMPU3MC8=G3#^>VD M_AMY-6\Y<3F)/F_>RW$XPQ#2?RZLES(I_U MX);Z+X'4/WMZ[))'\:BQ[4'4&[327'O'3GX^2K.?8])Q-O4G;J/1-QMQC<>, M:_,0MWGD]@^/6Y8TU7]QJ$1<1AD%W2=+@@;3`R.;49G@LA6][Y4/K8O+^]0- M:^;889_?_N)TH67<#F]:G]^OGUSE*P6_,NE[0*VK1]3Z@E-AXWL0MPT>_5_] M_G!X?GZRLG7/GF_KD7=K1(NVL1M[J+YSHH0FVMAMETXI20'['CQ1IM9JO[L+,?G*T^6\G_-^#6VVNX.T5W%+J+35M M"G[?$G=P1_57/".144_U_C5_%Q9=56K51MKL.=?SZSV7TFS7TJ;G1(=3-]H3 M"U*DN8_:J^UV&M6TV6ZNYS?H64V]CXHUN?1*;*/JMM'PNNZ]?.N"?Q1)*,J9 M+V>@5MC$Z_S9_EI;<7$NM_?++65;A%L\#)G11?>X.URUIC0;J?/"N8*W5W!% MJ=5::5-PAI;9&CAPW?;'EG&0]>*MS25PH"3O+9AH>EHJ?6XJ-@Q^>7SV8L>TX]A-B^S([0C['RWE-&LFC M;3W2V:,)D9-#QR8(F?1,,J`>6+8V8]I\[M@_^6'BL.\@:2S.P[/,,(JPL3'6 M"ID"1AZ/]^,Q;1*%.(V%,"I)/!,ZG,XM^QFKK/XP-,M[`*$:R;/IBYDH!8@< M_<(#H5.8@Q-^G@S/2[F^0[63:-6&XVF8+$?<8SSB+4ZW/=`H:0J+B^>6-ENL MS@9-PO]N]$2Y+NO^>+V%/T/$3C:Q-'/*#P>*CR;G*M79V/>H%.V9CIUA/_#4 M^&FTY/VB=WD3JW79X&AX;PNGL8?]%1['L[9$*%MT09<)ZYJWMWQ@A;VIS;SM>"8(ZR+JD+%H?/2,7HDQC$; M26)T>9G]()?J/9@NN_=-JEE6:+X0R@Y[T(2%"B6!-8IB6%YU0U5[=*(UVHQ) MS2BB?E4>AJ23^WAZ4_Z9//72>4E^-'_5`XL%`CPR.ON32^Y!R#??O,&/U89>-MA8_! MY,N(9-AVP\E1_R(YN,FN"$>1G=[:H]D$\'($D]#'(6D:366W&$X(1PI!Y( M`LC@5&^W7@*)3R%%ZCL%N!6W(X%J5BMM-4ZF<12*5"05,CF6")(>4(!Q#^V` MH2+;HF7#GL/8,6Q;;SBH]@:-7JDW[*FE>EVMECJ-CEHZ'W;@WT&M6Q]67@/; MMN>"LTM$;;N(H;9!K'E%@&S#RV2BL?VE698&.\41E6RYH.('%^RV6+CV89=I MLQMS8BOLFZ>762P&E_=!-!:Y,A:6*XBN@27_UG.)8X:Y_M@U=5-SGF4ADXAT M%%%6C)6HD;(R'H7('`8LHB-8S[_"2BW:&:I?9@J+]91O(W']IPHN42X7'P\L MM[J/99BPQ`T0_,+FU%8R[(H-]/KF8M"_BN]D"7*#:B9@ZPYA&`WEQXP0R$8> M#6,8UHA!*^#M/1$+=W'20#2QA!$WO.[&=S408=,^+\P+K1H_^^I@L6^Q\!<> M3&$X,36(9/AF!R&Q4&[1P2\U/(*+8BT7"P^:SM%\-%T/BP!'/L8_6%E\J8DZ M_&MP'!Q8@'W#^E7=-SCJ0JP;L..P?AX-# M1+(.&3N';7\D4J(3=@@VX%T\6.71/:`'%0LQ(L6IQW2C@O['QH%EWV+A:9L-7.)12V!M/;(Z.)B=WA?1$X5K0!L&7A/+&_!4DF\@X2 M*X+/\&#C+0=_C^#:Y+00VX&>EQSCC&H)=RD0[VM8+DZ[X&A6F6M#U-JBD#B2 M""EW:NAHESQ&P,<\$>P$Y?(DJ@DZ!P+BXQGS`!5--KJ8C:-:V)^>Q"3`AN:V MZ^+6!O9SPM*2*D=%3&."-A+H(0259%N/?!?'\S"6<<\Q2!`%%W/D\6DC\&R`RQ$%RG:G(0.+S>G-'`LL0$`U6B",.&]]"AF7AC"!-($PV M*),AZZ/7H8D$6THPIV!/"=9@\AY(H+(8J`AU!5_6W&$U\&NWG:\+4AC]&%Y?#T:A8&`V_?A]>WKXZM#T:9N]M]#5+$':*!"A/))%7"W#E M7&X8[AQM3P`%',6V#4"^C`B*[2(4 M&-R[A`6&C[[AF%D#@@-C04]7-[\5HJY\R[0*4)<#F/@$P!2!TV4YFNY!.[T1 M*Q>5NQEN=S=HNOM?J/']B[!H7%O0T"(+",T0PL(B(X/CO%H M&D\"J=K`=+(FP$*C:U/\\678%`0/".[A$!TB.RQ?T\:\!>,A_XI)Z9*F$7YI M`7Q.OI\YA57(/>.A2;0C(PQ,IQ#)^JCP>\(6D>N9O&+ M0]@F)0!4@VTC;##A,<&+*,W2'(%8!8$6,8WB];J/OLL0[#P.;EU"K(#?8JT9P<*1`0^718Z/X:_C*`Z&3@ULA:H9% M!8/C=R`Q913DI/UJD)/&<4!.]MIL#G(2A1-H[@GQXI8`.K_;"-!9+`PQK[$A M:-TIWL6K\%4.C'[QP:UM7_@JJ02V2;6X$X0HDT#5[@#G9<>.>9Q(MR.W;_$R6M/<;[M=U@;81OHS*ZL!X=.+12SU?4C*FUHRJM5NJC_A2O MI-D`C#C<6IH->:5LVXIW4N;V8NF(ASR3AF<\:&1YAC?/\.89WE0'!4U%;:9N M=YU'>B_!:'?4>MJ4FK)U,D_O'LJ:3]O'->6S#+FEA&A4K1S9/6VMTT1'1C]6 M'>5=H)C-O=*>;!@6V>J1(Z?<,^U!J^W:D7-D;_5-:4Z-9>&U2?Z2*;%IL5V] M=EHN>UK*B65OO3WJ5K:F5&L?A&WEXRCUM)HOL?G;IX0OLMF05Z+WKW@GO4,: M&'/'F)@"2YF*=:<(=?$/_4+CR-\U9?-=4]+SO/G;I_UNM]5&GD3)B#)5I=,Z M,GMK-O*Z^;NE@]ELX\C<4UGR/@E1:6JR\AG:7&8A(YGG;S.?O]5?WF=F;Z4] M=H1?K>1K;$:4"1%^)Z41?II7UVRD(O/4[3M6V$5FSF6`X2U`@N.HP@-C[.T- M2;BN=OJ#3ETM]0;56JFNJMU2K]>LEH:=OMH;]M5!L])/')+P8($@8S#LW9*P M7TX^'Y`7`^\DCJL;2:K)^L2I62R<"T(*ZIV9I$XO@J1J[)/:J)0KQ<+4M"PB MA#`F/A(X"GY0[=XQ.)3I$BO$AG$'5Q')QU3C3!V(!GXU\>RQX83SK=I6$-._ MJ7`...32 MH?J"&M`H%A8EQ*2`XHRI"A/D':L0HB6'(%W$L=HYP9EM6=0B)U?]E9V:D349 MK^A:"-:+J*(]D!KT!CXJ$'O?$9,L9RADH%YB!1%/O780^Y=?>6[HA,-Z#B-R MZ;=B86[Y+JN4&[\P@?[/J8+@>=\NP"=37QA=I)8KORC\(Q*V./P7'`"=>M(!8-\:!"]I9QG!$RZ["O;-[ M20!"G2'B#MZKBQDBXNH"\#[*+C'7GG$\DP"P'D%J<5R5\,XE'YH7I%!H(9XP,23RDI7#?LHD(`]UM0'1K3\$*@,''_T?0[F`J46>NL!4#"Y3S9#M$-371 MYB:QJE"?DT7\++A786Y\`X-(17!97XPM0=TP-\!EOQQ?AB.-A9/(&,=A^CV" MM;>1&&IFA+.:!Y0-$5#VP;K&[P@8]\,(B*(*QD?1H(L4RUO$@^R%<+!8V"X> M7!E91<)!'E.$R/0\LH/=M>D^\*BZR/+W MMZ\Y7I069JWD-/(=Q",MW#3G2P`_0IX`NOBI';9+C',4)7$%RI&@`DR*L.:P M2B,51\`^'I)03>Q'`SYS@@]/R*=8(`%QHHYU4=]*W7/N[M>25:U)#6U%?WPE MZ3N23'_)?K91;Y;R5Z;.-+>*HR[7HW3/F_H?WR@0\U! M&G+WVG!&#]K.4X;=;D_M=3J=4JW1AR'4NS"80:]7:C8&:K-W7E<[W?.D4>J> MQS*&[.*R?_5]6"R7WZ)G`\=$(*PB5OYJHSL3/B:R=!+X+$=[=Y@,Q]W M/L3:\T#L3YM8`H/&D3(GNL25V<"TJ/VEKO+G,HU67I<11Y2XB/87JPA]MNT_H^Z7BP5D[NDUAKR\E]LB?XG.9G+\??]DGS$\W?"+X? M)?S-^#DQYE[X?1Y-XE.8%G[5ILC?F+,%O8HM*%90'X2/G,AY*53>99QP)+A6&O'AF?,E\\# M:#GZ5G4G*:2$+:PI+D;+0O%R+K<=E*2E*-7X^DWQ1TDY)L/=PVZIU3QR87&^ MKN?;XNROWMDHCQ8HD#;GAM.L1`](9?YM?FH[XLJ9?6#,,!^ M1.V>5LJ5M-`JY:MOPM:07'([6GU3LW]>.'TOC^LLGEG/5^1\1U8<;/B>7KAJSK MIRKFN0]W88V^JJCMMM(&N8NR-P)+K2JU9E.I!+\J$5PCZYFJG=V@4.[)($`0 M:D1G.F%G4$&;B67[GAD4UO'BNQ<@+Y9KE-=6HRY6Y[K>U=U7V];=[DP?&A"QQI18^;R^9RT$GB06;/3CHEL=<\WUX#+G<$NA_=?4-%_N1>)CK3ZQEE5 M/?D=0^?UGD.,86&@JW6]-\#,X;`V''8J@Y(Z4-42_-(M==5*J]1OUNN-3F]0 MZ]5Z2:M^[X4;OF*D=J,>7G9Q^>_AZ/8[;%%'6VX.CP0;9#\A(A^K57Z)`*Z8 M,_;5\>%@%]EUIU@T]`1ZSD.8(9X`;Q?F"Q8[)A$ M%8"QO-BQ4\?0_0F"%X+`HB#M`;TU-,3A>P3PV\1W(9R$$(E^QXX^F'/0Z81` M9?0S&2UA#/+F@GHNKV(!=4%#)N@N&VZ>N=P+TJ$+ZE<@/U?`!0;R(].`,-@W M-L()1&QDK%D$&!,`,GB.-G-I_,4"H:%]-WXB.AJ[-ES;C1OH]_]#(&`]0%1,Z.C+!9@F)W(,*OE M2@_);X>Y4$0A@*`5I$_0Y!``-_LM9.X)F^Q3-UX,U`%(Z!X;QX8G@A M82-^4LNM`+/HM<.)0"/%D#'?\AP5+!"6>)NY-C1-^Z00U(9AOA(A3\5F!(0S1^@^4V?"F;A\).)>`:6HN:[A M;018I5W12GC'"/X&KPNE'1#97^#L4065U51_YT MJCGP@[YVD0`9@[^=WP:%L#2'!Y8)K>JS$[HQ,%H8=(I:_:=."%C(C`7K,ZK=6 M;RCU5NH\=*++,[\ZMNNR:\>^,[V,!A7OR%[LT'C;BMH\):]O5JXVE$:.;/(1%`VA9:[G#Z#GAM)*7_XZ44@@LJ`VJ'*3Y<#FC!FB?#U: M!JE0Z2.6^2&0@2)*RQI!5=ZJVM=MBUZ34W=VNU!JK+$ZUFMSV;!8V?:($8K# M3)M@Y:C%1I^[\:+8KZ.+\.O@RYG"M&+!,C2"`G]ZL"W#U2R#Z:;K.>;8]VPB M,1\[&LD,#^4:3X1S,G=LW9]027>QT'.T?TRKS`8KJR!%M?%FN2N<]7N-!>#@ ML)J1,Y'#($C5:JV&L"QE=B7J1#^URLU`^5B5;.HB3<;FVC,5NG'*]J"=)Q/Z M)\H-!5*+&2TM!?G,8:@_S:GF&=8S^U2-M.`84\V<\5KLL<&HLA*K^K!^%D?) MY."VM*7K_V_O6GL31Y;V=R3^@X7F2+.227SE,B<3B0"9DSTS(>\DY[U\BAJ[ M"9XU-NM+$O[]6]5M,'8(@4P(-NG52AF@;W7IZJ[J[J[Z-%>QU M+W7FL47IG`Z#F`0S_F`W^\"=W5UC+TB!4B+]\N$?TCU\&P>(;Y.J"\C@A_,7 M"#ZXN;B\'EE^2!^SW]I[2@_*A%@1__W?]Y<]'M?*]WOE]\ M@X)#$E(7Y)*QB'W.=FAY(8*Y/-AKZ[DR2]VQXX%A0=/Q,'9`B$[$GLOBST#J MA/Q%P49`22=RB(NF:?$,&=$*LMIB*@K3T/4>TU.0GXU1./)H.-P6]!.L@*(A MUC1JIVH>?B4WYBQ!X'.F6#2%(T=5@![=R"+P9(;\!*R(/4SO4?[WPNM85A!3 M>PF-YRJQ4T4#SE'-VFE=T\U&'FYH4XKR^%0(Z,7R1_6<>S#3GIT"TU#+)<'[ MH.N\5O(ZHNLH9@:QZF6*LCP`QK!I?>-W.%K'58#'.M'LRB4>PC"A&9@RRU(X M;6C53HVFF=&%SW3?J04$7Q6I/8%\#>SFVT2KJ+@+UTS1:V65W M,UI6@0?"(I7\>@:51T[Q=!:,K=G*[YI6#CVWR))P#)S`/VA[[T')P3Y?,6\L MOW(7S@II0+7::F?7F&TH>FGO=<6Q<'IT1`-8FQ-&0NL#A,/IO]&93F$"_0L\?9Q(4/8&,8@0A8J9>43D+)[=@WV8JC9S6_#- M:,GM0AC(TF#43Y"P?H('-_!6ZUOAM$)KPG;,R%K_;0AZQBSN#/6QV]1-Y;QY M7N\U>AU0YS.]?M93U+IIJGJ[?ZZ8?4/;!O51;;T#[..W;*J\B\ONX$>_6KGI M_&^_@"B/'18I6PG2Q2(\2A["T)9&L>O.I#AR7(9QA3^?4PR@N3S,.M].L$A< M!CD,3`PNFR0(9B,_>"`(T'C'5N)H@3MV[_AQ*,TH"<(<2B3&--/2]R1@)1G$ MULJ.L_U@(%#3CI1%5"X:DTAZ@`_2D-XAE("/\1OP1W`@B--Y!$++A52?=D-9 M,`BA-4V60(;DCJ.*H3AL M&M%@PN.+V#YP^`&CB\OA7-B&4\EU_L)@$Q3R),^/EN.[\YHAM,:7`@R5)Q!O MU!"1Z$R6$D_P*BHSW-$(F@C]U4(XI4A)B-'NJY6`NKBDF.S MJ!LHQ!ID33($S8IFR)U$R1:CJE;28 MZNGB4F:J03C^N0IQJJS9,K0?3"+[5YQ$]XIUX$##B$4QV8'5`K'S&2A&%-[4 M#QT^/=;P#V'OI+N`36/7F2L$C^4;/)9_L08:--%;H:SYB&16)S6T>+N9E'6@33Q36 M4A+X]TX(I!Q)`P_/8?Z.20!S'A0?)I,3YF+P7',IA[[-<0(!&='$ALG/<^F% M##XW`:W-X(T"-:X##F_(3`38LX04'6<-*'JN53)TO M'%TV63)EJ0LF%28_.Z;\`::-6&.P6U$$4%4\?SP;#`5BZ0PGCXBY]8L4ZKE?E"G<#`HO3H(X'5(\&EG.=, M8.LO:)Z#GWV8E$H[68WGD,!+32^UL&A@I38S]G!+F&,*PP)-.^9'@-!K$P\( M_?AN_-JSUMT`?3\'R`M3P76L&0)V!LG9).K,XNP510RRD!*[N$4SI@ITX)^O/*L8Y`9IX%Q183 M6$X0#[K\E\%ZO^I?7'3Q<+Z#["G83T99GZS>>(1ZW):E\8*L3.?>X M7>-Y`MS$^250L]G:&JC9W`]TL>CVS;H54(`[Q/9:F.?! M-'W7^8Q-+B2N6GDY_C\4K_]2N\Z^60!?)\DQLE_21QI8X&>GA(,S9:W-`5M( M:7TTN?'@'BQ\V:]QHQC`QB$F;O8'\-VI])EYK7\(X>Y!N)V[NX#>P1XN*Q=P MN0/'"QTK^S4+4NY13B7#$L@O-I(?1V%$6+1?KE;^)!Y>!4Z)3W;#&_H)XB7) M[XU"DXVF*3=-9>M!E/+5T+M*>*_P;*IVU!!P$ILUOI=B9:5HAP_']3<`T"-> M)'!J=FE8EB-];\&3N&.\!GWL^QZLA/'\4V#; M'KZ<&T>:"!L=["V&AJPV%5G1RHUU6FX/0H<]O>W'0Y>NFO9O[D*\MCOA0QS" M>#^,/A8Z_\(3WR6YBH[/@H3OLN^=K:RWA>]RT!(VCA21R_#PY6P>J4+,!^N[ M&++2:LNZ7CH1"]^E8'M%X;N48KP?1A\+ELD;O3DZ&TO>1G,G!-D\"1"!+-[ZE7Q_!@N`G.@!*6(0=JX?(LX0>V*\'@G# M8O#S#EQ92F_#6IF3SALO%F(7UX`<=UE>E:R`4O$]#UCTK&>\R/2#L(K2 M)[,AMUIM]N4GM2&WVXH\3PP#BN7.$M3(O,@1,"D+0\(A%Y<'YS#0RH5>$(X+ M9^/T@.KS>2X<$=@"1(SG\ M)8/RS<.%R5QO]:,6L#4!(D7.,=5+\#)Y8J)TG!*8VP`4]F'^"T%H;CG6*&`4`TG3=4UN-!L23_8@D7OBN&RA034D'#"6S4\K M072L5N[P=1IP)@:57`-QA^#*TG??NZO?T&""B5`12!"6'\QN(3.,(#)A:LW0 M''^0IZ^GLWB.\WZS*H$IJ*8Q4(J0["0QA"`476&IKN:$P3<9@\_26!%O84LP MI5&R9'Q2U:.&@1BHO#)?N=(%FHV#&Z.7-)I![2XA[29S.Z2+X2<("WR+ M4IO!KOVDT[0X'18OI8RFUD[KJM+*0MNO(^%)[BOBW3DPV3F\_<[`RYN];JO5 MZYW5#5/OU(UFMU5O-7MF73G3C79;.S,5W=@&%FXW2)98DX7]+Q$5KIO#@KNX MO.E?3 M>JA[%(B8BN^!B_8-LR>(:;^6X#/+6=#+)UDRBN/2QJ5CMN' MP'=A@80%$A9H_Q:HK&_OOOF^C8'B=:P[B*NI>[WIA`P]9 M3&OUUX-ATYGA/1NHLW/EE*B.Q)\9<2>19[*?:Q M*#H4.@1%Q:>H>'24#*WY)B`VE3PR$7C-NWW.VI:-\KV"$X(6KD?Q78]B"%[, M<"%H(>A#$K0PY1]4\.66()YTOQ9*D-)14K8A8DJ"H!/Z]D,RA4E0\.DH6 M2_KN6/@X7022=KHW,>66T2S;WD0(>OMD/0VY:>Y9T")=SUM+M2TK[0\"6OFA MY2S,]`<1-)CIAJ$*,WU84FW+FE*ZK&J%SO(H#IK?1W,;LJJ63G.%G+=?=U39 M:.]9T&+=>6NI&G)#$^[!XTTB+G\J%)U9";Y9N])3M,Z,8A<(T& MB&V9Y(8?.U/A.^PT:*7*:J-TBBT$O?VRU&J(1>G`9*HJLEZ^F)68O,)*"T$_ M=[30$@<+!R93L-)&JW0YN0M]LG!%(@0I%Y[!#M76;!EETUDAY5=$JQI[SB,O M%IPWCU6II5MMQ,P5]EE(>;5]%F&;`Y.IH95NYAY0;MP4S7:%1KQY*M)7]K:B ML.#;._!MW^,O%[<$WP3?Q.S<$[?*BDW.4KLR`H:+/<'AQ?#VBHUIFG)+W7-8 MY\"]P[W*]W-;UEK:?N5[2&[A7H5I-&13%\_&#E:^PA@?MGP_M^26,,8'(DPP MQNWR&>,#BL[IX"O9?CQTZ;NX9J_M[@7?3'!N9YS;.P$EXY?@G."3Z."+2_]-EV[O'3R7$T,?HS/6MOTZK M%4DZ22M8_H1^]\/P//`G_;]C)YK]H-'8MR^\>QI&$[PK=TFCP:CGW#LV]>QP M$$"K4>`,8_;,1K)@:P&-_Z2CKS7JN[=7?3;*IY4R(&WZMU?6:Y-CPLWVK:094 MUHVF9G::9W6SJYIU0^\VZ^W&F0$?SSJ=7J^E--7&K7K;JIWJ[1;TNLR6WZ4R MRS4HVB7A^"KPL;1]-OM/2*&I<\*,<*TX0JX&E(2T1_G?"Z]'1S0(J/T3^%DXRI'PEL'(WF#X:^GL6)8?@\I< MD1G.2/@8Q-3N/TX9H%W'LP?1F`;?'3)TW&*J@:H#-TQS'3>V)G*)9>RGBXA. M5EF@5S,C0VA'-\_;;:U7[[2Z2*AQ7C]K*\TZ,*G;[:E&IVDJMUCM%$UE8BES MACPYIV"&7&U-'Q",=>-*?Q(M),$O75565)=0DN5H! MS93.?!+8DC^2>DY`K<@/0IQ2+H&Y+Q'I;Z@;T<"=27,JL>@GY4C1S&IERJ># MY'O2.1T&N7Y,WH\4^5(XAO;&OFM3:!X:@)Y\[-6K5E94Y/6.)!C]#Q)8X_2G M1C)T:7GDUF-."#DA(:JA4?>]MV_+DJR:D'&VO8;N>U-?Q=.I2'"QQ)0MF MAC1R_0=,>@;$3,A+";]?&KZR>O3_E);#,UH:GWEVT\DVCKGM:W?P_7OGZAJ: ML'S7)=.0UJ0A2)@&7VM@;"WJ8GYN7/T7GZ?$MN>?'QP[&G^M-1O_6)6^>QY/ MRNRLDRHMY1^;!HWF5Q3R M;IHL-+M5,:=V<:BZ,\/\V?%@4^?'(0'GX8]]BZPT-]\R&TU[X5/##GZ4[CNE MI6VGR(SR_C-QA\4*G:T'0P+@4SHVNG`LXS,-:!@57N]*>,E`E8WF!P'S^$A" MU4J?/ZSH*VG.1D7D42!+[UBIF_M^?GJ0EJH8TC5D4RO=.K1N$S6FR)6OM=:S MV[2T1.H<&6]1NM![NX4'9I..S(W/'NJA6R.!86[L8ANQM%7]QO`N*% M'/85E-+^%?,K'877Q!+N53]KLB)PY@Y%F.!Y:'L&_-E8F!M>A7OY_LG2/15V MX2D$LW'N!S^I'5MH0@:CGA\/HU'LSJ_`%.[ZCEX[U98N[VQ(!B<\H87UNP4M MK#)4![OJ1+/D$WS&H_G(&3EXN<`:TPD(=AQ%TR_'QP\/#TWTW["B`11CT3T%`=55U3X_^0X_791 MD'KV4C&]KJO8M+U4Z.1XJ?&3XX0AVW)'0>ZH1>2.NAEWU!URAS-'U9`YMX:I M:V;ST3#,IF;LG%7(#7J'Z__IR>,P<&WG"WV$MGARO[.@4))", M9#,I.AY(#$HSX8#VHG#FW^U<.(:N-4LNG+,#$\[>S1LUA5C&YK1#V0$ MLTO5X8*:"27HFI[RKT^.YY]Y$U@K5W_9C\PWDOSV!7[;KJ5;&/AM;F3\TG5* M/]:[C"N>\65V?-=NCGC]QO.<:7L6;M,VGE4^.E\:^()W;./C' M_P-02P,$%`````@`-8&D0'(^EZ>2"P``BH\``!4`'`!L8W5T+3(P,3(P,S,Q M7V-A;"YX;6Q55`D``X8WI$^&-Z1/=7@+``$$)0X```0Y`0``[5U?<^(X$G_? MJOT./O;EKFH)?Y*=F:0FNY60S!Q7F8&"S-34O4P9NPVZ-18G&4+VTV]+V!B( M900&9&>W:FL9G);4OW:KN]5JB?>_S<>^-0/&"0VN*XVS>L6"P*$N"8;7E2_] MZDV_U6Y7?OOUQQ_>_Z-:M>[O/M[TK$[@DP"L=O43A(S,K6\.^,#L$*Q'>TX# M.GZV6K;O3'T[Q&ZM!Q+\/K`Y_&R)_[L6/OIVVWNPFF<-RQJ%X>2J5GMZ>CH# M=VBS*I6=GSET7+.JU7C@KPL6KZPW9XV+L\N5O_3H-'"OK`OG71W_&U3K%PVO M>O'FW45UT(!F%=S+R[<7=M.Y?/-VI56+P8(Y%]F^LIKU1K-:_Z5:/W]L-J\: M]:OS^G]7J>GDF9'A*+3^Z?P+B9$26S36Q/&SU0Z<,^O&]ZV>(.56#SBP&;AG M44]^)`<+91[PZ\H*]/F`^6>4#6O8]WDM)JS\^(.U(+Z:<[+6X.D\)F_4OGUZ MZ#LC&-M5$O#0#IRUAJ*SM*:-R\O+FOSK@IJ3*RY[>:".%(T&@Y:20GRKQF15 M\:B*$CYOG,VY6_E5#/B>41]ZX%F2AZOP>0+7%4[&$Q\JT;,1`^^Z@HH4"G$W MZ^>+]C_=462^8HG^O_3::S!\XD%(QC!@V(9+ M)0LCE:T)^II6U[6\`'K8\GL_1-438W2\#R3`UT9LOTLY$4.T?)MSXA%P]\2A MV?DID71M!ON^EAU&"$?8E6/[A\>&\YN.(3^"J)^#\]=!Z*Q%QQ,&(P@XF<&A M.%;V?'`,+9N//OCTB;<#ES!PPOS,O^SR,%Q_IB'P1[K4Q^60_-;FA'>\+D,' M@"9$*.E-X/;),$`U=>P@O'$<]%HA.MDN]8E#L!^8A[<^=7[?$^^1F#FVI.[_ M/T7;BF'$B+KM8`8\E(_O"'=\RJ<,CB>7'88^MA3:PL\,R<"'&\[A-/!UQCPV M[CL8A*?`JAKGZ/B68Z(50NN)IE/.OQY@9`QNB_*0]T?HM&Y%7-RUGV6K(\HA M)S]'MP8V"]`,\2XPR<81)[]RI.//=>$X<9UTFDF>,=BQD?9A*#Y[,*%,>)=3 M`-89\]BX<6:-R<*9H*-M4>E:<5&-CO44(MAQ^&-+0X:.;?QR$O#9HT58G20W M(5(3:YB1%@)7++L63\5X1UA!+ABI;7!R"O8T%X:2%60&Y;;&@"^2`Y2M*T4T MOLP`>#8?R#3`E%>'MCVIB41)#?R0QT]DZJ1:;T39@)^BQ]^C.)2CW[$Q+&E- MF5C-Q2/Y]@#\Z\H6XII!OGO@`)D);CY#J,=]:A-#&-@4W*6_`+X5@(+>(/D/<3\=3&8&IUMD/E'/4D(Z'HE9CVJD7(TA=5]H9M#@V0>5I MV1,2VKX*D8+:".=RC:1B=/%':U<(P`IUWH]WL()KTD5+W MB?@^*L!F3@C%EJ8V6UJ8D/!*()+$5`JQIM.:X7J&KY&RYY>"3B4QQ6.4&FT' M-YZ'6H@Q!N]/!YRXQ&:HD?CJJ2.?HD;\AY(@_(KDN/)2.!16ED!="MS0QCR3:C!8F/<1$,O..UT!*2+88_E=0(STLO&D#,CXKG M-%(3/$OW'YGQ;:XIG=88U[$,96(H2@ED<9Y*;X+[+HM\_-8P,HW2$,<37([= MS\7N`<11H\XZ1*>E&41T`BQ\[OJV#(.%:9X(YZ3VRIE-3&#H06BC_7#C?8V5 M;`!&D<116A^-AB;P:'O8+)^ZDDB]8>NLV\R).\1_OLBBKM`]B<,7$BCN6&"E!V2@;R@V? MO0I6,VV7J/-K`I^]JY-@;KXBS.OYB`3C^2O"J!6_)M`O7A%T19(L`?O+*P*; MF35.(+\I#V3='-2J%-)R/8FS>J7@]]T@2013HI!\'ZW8OA^1B*)$`?M>$R0U M49?`+U&$O@_\C.S94@;-$D7N^\@@C2H!7TX;F>$8T]/IB<:7**#5`ZRJ*TL@ MERB^U8:L*HA*4))UN1Z>%^6W21@2V2[ M],`J*^82S"4R7GJ8=?8R$O@ELF*:KWS7!^U25EWJ&Q@8D?O(T.E[3+J*;`:D?LW!A^"1V3N$0,1+@ZP2ILO3V6K<.DU-AKUICC^M>S;I@:6 MI&88K"H(*KNJX0 M-$-L1<&0KA!,Y_"4E]F9.4.\R<:6<_Y9+?Y>F6>>$DH1W0=T^608+/8)G6<.CIVLV$Y=F+EG`2>6.'6SF#BK+T(!*:N%"03WGH?:WO'NY\[(#H;0PRG1 M"=(%KX"T4Q=&,,X=X!QM5[2`%*NKY-;)U7LIH[UA#,?1%LYD^8\*=*X^"[L7 M)JW\';+IHFWE'78G@G$RF,J$19Z-LNR.#W*OR*9%:`<;A7A1N5:TK.#+(NVD MUFL#X<&Z-?2^%7SK7%BRO6EA,&V4X&6?QM^EAR-IY>I!`3V%6VM1#+GO>/^- M5NNB(%N<25/;_NPVQ4`1G3J+-2?U])DV/*W.#.4"1(#1950X%O?V^0L7,UG? MC>_008'P+?QJ#GQI'10(WS)]N"^^M`[^SE4I[R.)[EU?"=`4O*91FN3XD=XX M&&\R4-X&L06(1@>&;HAQ`%P94/?0]BZECFM[%:*L)J8QR$+DCDSY\/LY,(=P M4)61;F]WD+A,F@SQ"U\?*.N!.W6B[`F=#D)OZL'ND1C;2&-K.\U2'KXZDH!2 MHZ92GDT_DH!2P^92GG7**Z#=LJ*E/!JU^])IX_:MC`"EE/<:'$X@BFBGE%<< MY)-*SLQ[*6]%R">QG>(WQ8T)!2\.RCG1TA:KBM/'Y11$1G8G31`Z:V#%:?1R MRB*3M%\L+B+[F_?\EX7O>!U5 M"EZ7?':\U>B^!_)B,'D:,8G_E[FG0F.*[W/K`I.L%YO;I5DMB\KT82@^>R#. MK**'4 MA`@2``"3.P$`%0`<`&QC=70M,C`Q,C`S,S%?9&5F+GAM;%54"0`#AC>D3X8W MI$]U>`L``00E#@``!#D!``#M75MSX[85?N],_H.JO+0SD>7+[B;VK).1+7NK MUKORR$XF[D)2H"T""$BF`6F0R42P!X/D.P'/#.<#' M7UXG?N,9489)<-D\.3IN-E#@$@\'X\OFKP^MSL-UK]?\Y>?O_O+QKZU6XZ;[ MJ3-H]`,?!ZC1:WU&(<6OC=]=Y"/JA*CQZ+R2@$S>&ETTP@$.8=3&'0[^&#H, M_=#@__4:\-7O5X.[QNG12:/Q%(;3BW;[Y>7E"'ECA[9(-/:12R;M1JLU?^YO M,847C0]')^^.SI=^&9!9X%TTWKD_'<._P];QNY-1Z]V'G]ZUAB?HM(6\\_,? MWSFG[OF''Y=Z75/D1,1Y0/5%X_3XY+1U_+YU?/9X>GIQ4C.0G?&@`RP-V MV5R"_CJD_A&AXS:,?=:>-VQ^]Y=&W/CBE>&5#B]G\^8G[=\_WSVX3VCBM'#` M0B=P5SKRP41=3\[/S]O1K\NM@0XO7#1?)NM]._XQ;LWP!8N>>4?GP6]_^^2]S9!`7A_-,)O)L@Q.%;+Q@1.HFH;S;X^+\.>BLP M?#Q"(9Z@(84^+%J28;*^V[Q]6VGH]JX`!M#SZT,("Y4_HS^ZQ0%,,G;\>\*B M-^S:=QC#(XR\+7$H#KY/)/<.1=M.2X$GA$\PE.OXY6,#:4`F:'<$R3BET]<' MZ/2:3*84/:&`X6=4%L72D4O'<.VPIUN?O+!>X&&*W'!WXC>'+(?J+R1$[)$L MUN/BD>S*89CU1_<4U`6($+Y(.X'W@,637N+AJ&^\`J>T[E^!;/!"D$TA-$9_3^#9`/3;QKPD+V M\`1*ZXI;T??.6]2K0C[L2$_ETL"A`8@A=H]H1$:%+[_T2=6_ZUQQ@E.UGY<\ MXV%5(WU`8_XY0%-"N7;9!V"59U:-&]ZL"8Z5"2C::Q*I5O#`0;'N@P4%'U\U M-R+3L0=_[`5\]M,2K`YU5>%*_-NYY\P=V_<1%QS?;S:2@9?Q+'KA(&Q[>-). MVK1YAPKI@4=Q0YT$+0^-G)D?%J-NL_M^:"43!P=;DQKWKI+2Z`FM"9H,$2U( MYDK7"FE\@B&H.QNBUH(SQ2@5#9#0ZRU"@#P"N$(SO&0H\'B\(OZ6#U5!Z"6B M`RB!]WGE\3X/6A$JY%F$E"'W:$R>VQ[";1[IX_\3A?Q:QR=)7.I[^.IK!Q[M M\BKG M=G$=J5*8M]T=CS!GY=(O;[8^^1Q@V@ZSHY^JI MB47$-3R0.GX/)-#KO]";@"QQN[W1!T89"1Y"L$(B?X/U9R$/[/--&3FQ69WV M17DW4/'S^Z\8I&L6V^Q/4TCAPTCHV+&6F/'F<:$(3]D\V_6*4R^3F/`8%F@ MR()?(S2CH59Z'YVAOS[;DD;5S_4C=;AT>'B;#(DOF.G5WQ?TI'9=AZY2!D;A M?)C$/MS"(D\&&%$R$2^X^2.)0+0T"/40C3:RX9]F8PK:CL+/E\W39F/&@!XR MY90[E>&)?+ME"/EKEB.1K90YGN/C!%%LP5]P=Q5YE\V0SE#Z)?CO8%K?^-$( MX!K$`0X=;%AS?HHS9--X2*?V5,_4EH)IS65(09W5&)3$"DW!O3L`8W!R4,T"WPGFDR7 M$B=OS?5*H9W4'EJV=YXBU62D"".ZF7A7?)(YU@VCNZAA_;&]&O_=0TQ8,8U- M@_^79,VP>^>-,SN1`1(_4-)8A]\Z)V6`7(2?.35?4*A&O;"+)@S@(WF+W6W$ M<@%(VFND_@X[0^S#2E:D7M!>$_6SR2S*%Y%E!=X1QF"%]$?`:CFF0J-H0>IY M.)9_]PZ&Q7/M3''HK$=5\EIKH3S*Z)(1&O^HCZ[.D-NWKG2YKS;21V?.6[G2 M1CN52DQ=;ZN#:IZ-R_-2X(-G8#X[?I2I$EX[E+Z!O?6;X\]DX52UOEI0I19D M)H#U9L5HW4R^X=]\[:(1@HGU!GQN@UB@WI%@_(CH9$EK?"&!*US26PZB@\]S M*D$GQ$LZUWC)ZJ$9@K\WZ@9%U_(L1[P;X/RW$]6QDF4;2(9D.&/>Q0>#]@ MZHD;?0LKXI\$'.O?H/D,//P,4-N/:?=R8RXN22A>:L+5W1/Q/423H@L)\W.[ MF8@EQ_!2[JX96[82-<3WW"1#G?LFV+X\#,GZHVO0XSC';!$VU4+SP@8,T)P> M&*I M@[V;5UX'A>8^CXKOK])3#R(R131\N_>=R(GC*F;*C1FY%9?910>&`0K!@4#> MO$)K*5+(#Z!PI=)'H:/-:S,MKVT7.A6M2D/LR,*6HXJMN/<=57$$=SG;31*5 M7.PUGIJ;Z94/+EO`IAC-3?S*Q[BC6YTRP=P$,3D3E.).*41SD\3RYUEB)*?@ MS$T04Y5"RVC,S0S+W,=9!J6X=9)B-C=C3!ES=KI""M7<_#%EJ*LQUP6T,W-3 MQY2A*;E:*6)S,\H*3*8P[)]B--T,4L"8N1F7(C7=&%*10K*5JLO&.;`*&X6Y M*AJ'7YZ^K+AQ'4I0ML&^;69`':I7=ED+^?OO=2AQV>EM$$;TZU#YL@OJC.AZ M'6IB=H&>U;H.I3,EB7[)5G0="FSR-SY7,8NV&>M0:U,,IRP%OPY5-X61RE+& MZU"'LQ5847:_]E*<"M[5K"G59(+9@O=R*LQD\OM-!19>;[Y(7?0'-+:)?,AN%HYF]N MRN74RA4:0TO]%F=X?Q0M)6&%2T;#FM'[]51WA1RLZ3Z-EK\7*=[Y(>PR"`H] M-2.*3XWHS,(G$#-_IE)!CF2CAQ$(>HS-U*E/6AM!N?P\3:4N=:Z>JYB:G>3% M8=4UK3I&!<688F?]N!2%64XG4W!DBK2,#J;0GR_8\GIIR79&49[H*FF?5TS^ M]73GC![Z$%P51B#NH363?]D&%$C7_/:V;J+BNHF]>]AR_V'%L\YZB^N0.%,$ MIN15UY\/LWF3RS+4&B9[E9F\!M:I48A$4Z0LD%>BTX*E:Q)0P=25A-.(*;5; MH"5O@18+(]8A!T\-N*K/6(?\NVT0;WJ3=4BWVQ[IW-^L0V+=]BC%!^0:G$&G M!E4I2%V'1+K"<#->4X.SZ+:$N?&.&IP[MR5$>X)U78`I6,T)S--Z'-0=9QWH MV*M>>@NZ^!E[@&EQPW,7N3Y\*&QNR;OJV>EBP%->DAYEV"'ZC%W$'H@O1R+M MH(/^]9NVKQR&70GIXK8F4-W%_BR4+AY9:Z/V\;3P\1,EC-U3,I(>V[/<0M_Y MG#Q'ZA8$=GQ=]@PFLP^"/;IREEVA$:%H*1W],PXB^=L#-QU4;1B=$[$\2IR% M]!F!,>4M':+YJ$%"G%JZUL M#D#,ER\H3!>EA'>K;;2<)1C+CF"<2ZNHI9;],\?G1R4\HV"&Y,?5K;?2LS/L MPYCC3_`*4X;^.J-JYJXZH'$U>5N06UCZKN3QX?3HPV MTYK2'K.UUC>WOOF='+<^>6&]P,,4N:&6HWH6+P=[)`,$@M'%T7T9J2QY))S2 M>TJX.^==O?W*^$&;BU!J!UZYY_@TOYS[Y*MXE`ZCH#,A-,1_1L*E/^JB8=C% M+"I+NJ=H@F<3&0-R^VE)%E6[(4;L@BGU-0=5(4.\T!`Z,'81R'A^IU:L\I:7 MEP125@\M*;.C$Z?.H%:P>?)P=F)]M";''11WHV[QK"TH;5 M--\2NI?1ETD1$J6I7+E\VH+;B5'F;P77)OER+/Q;U- M019?+R>7_=E]S$"Q\!^2DXQS_)0"`YB!+[DI;_YF"&_,4\:J-)C=T%C$W$0. MJ[KI5&``L_'EO%-;#&00WMAVVV$^10.8C6^[^(P@!Z#DDE+D)>Y)0/ MP+Y9ZU<[M$3IYJ5QU<7Y[Z^4V0B1=PQPWF_M#'8RR1G\I![91OYA:H%@_29W-# MM)VG/W#F74%4A4 M63*!_O+H`RN%4)C>[7?B5H_ESHJ#UJ$FO'P^2&*I=:@7+X<9.Z8$UJ'^O!Q& M%8H%UZ%JO:272;3=58>*]G+@%\D!T5[WOCU7%'($1(M"94>Q#J5JY7"E2'Y) M'8K1ML\_4#K0Q%SGK!S@U42/4OZ9Z[B5MG"4TWM2KFCRX6R]<^GUSMN_&J?F MBI:=T&?JHQ2]N8)A)_29EEN*WMP@CN(Q4H6JYE+: ML0ONC0K=%+"FB,4W7-;_A80(;+5$`#G^`B'CA]B!:WQ/$8,_YUD;#W@2@ENX=5^&*3[^SF MA?5K*M'VNPE@[;$T:P0(C`!)`A3/1X1E/:.H!)5OEKK;X80*=5Z)Q7B!`:PZ MM^KV"%!6/,T^:B]$&KM<471.8R22RF57I:/6WU MM-735D]7>W=2O@"S"MI$!3TO[2M-*>]R)*>8%+'DD[6V,6^K?*WRM\R/ACE@.9W:Q&MAJ8*N!K0:N=!LZ2V19)6RB$GZ(U]T`3?F! ML\'X@'7Q@>DQA8F3*`N%GE8S6\UL-?/!:&8E86$5M(D*^II,)CC.N^=U]"0J MGD,!+YTS)&^L((5B.5EP$!O=-M(FL1K<:G"KP2LY1Z6@D+7*W$1E'IU4'LVQ M];,KUVF2R]ZRYV"5"(4.5L]:/6OU;.WUK(IHL#I5KE,_MODCA@Y#\,?_`5!+ M`P04````"``U@:1`3>%J+ETF``!UK`$`%0`<`&QC=70M,C`Q,C`S,S%?;&%B M+GAM;%54"0`#AC>D3X8WI$]U>`L``00E#@``!#D!``#477ESXDB6_W\BYCOD M>CMV7!'&!G$8/%TS@6VJFFW*>(#JZ-Z.C0HA)3BGA<1*PF7/I]\\=8`D4AR9 MFHCNQ@V9[\KW>WF__/'O;RL'O$(_0)[[\:)Q7;\`T+4\&[G+CQ=?I[7^]&$X MO/C[W_[\IQ__HU8#@\?/_0D8NPYR(1C6OL#01V_@5PLZT#=#"&;FF^=ZJW
`?)?&W@N^/5^,@+&=0.`ES!93N MM>6M;D"M)GC^PJ2[`YWK1NNZE_AEXFU<^PZTK&X=_S.OU5N-1:W5Z;9J\P8T M:M#N]6Y;IF'U.K>)6@\^-$-,$-A8XCM@U!M&K=ZNU9LSP[AKU.^:]?])EO;6 M[SY:OH3@TOJ`"^.2N$8C98DK,'2M:]!W'#`A10,P@0'T7Z%]S2DYW`X`F]L- M/EXD5'^;^\ZUYR]O,.WFC2AX\><_`5;X[BU`J0K?FZ)XX^;7+Z.I]0)79@VY M06BZ5JHB(995M='K]6[HKZQT@.X"2F7D6=0T$@*"W!+D_VJB6(U\5<,6;C:N MWP+[XF^$X8^^Y\`)7``JPUWXOH8?+P*T6COP@G_WXL-%MA2.[]^0^CV)@2)60]*T70(=;V_$R5*:V%&!$]?MXL:?P320W*9Z2W(>! MM_$M6,H4A$HI";XY#B)!Q!M_9U>@&0_?$"V=\,H]5K?&NUV[WV[;?& MM\;%WP05P,D`3N='QONTZH0X*L'1.74R4CJM&9DL7?I^VJ],WQ(RX3_W*,-+ MW%@>#A[KL)9JIH7OK?;ZB>#M2>E^HQ$-$VA!]$HD>H*A'"8RJVA`1I8<4K[4 M:F.;;.$C)@8PM6K`Y$@%TV#Q(V)7P(%!`$S'\;Z3[C$`W@+\T+ZJMQO`#,$7 M[/XOH-FXHL,`8+HV^*%UU:D;Y,='3&4UA[[XO5$%\!7Y$KP^8-FV!1[W!9F"LRA$3`C9,Z1@T(D"9B,\NH!LRN$G%>UFJU&&C`) M2I7`RU&:&4G-X-L:N@$,*@"1?!_+@$B.!31!9+/:.&3^-@Y?H/_@K=8^?,%F M1:^007GD!0'N_<8+C.G\EBU%12V4`L$/A=B/2_NJ*"5NL:V]8-/;+DPZWK M8NLB9MU+TF-_(#^3+RUBX[6P\?P=7&Z(D9'[`7B1EI\4$^'N#.U MI);X*%;Y/GG^H[>9AXN-L[L.MF<&78J&RHA61C#)_KE;%Z%*$`>8.A#D0=:* ML=X)^)F,D+]\'*\<:PT'AWAV"N>E#7L\(K*@-16"Y%CA#?DA#^WM^>RNYDGS"R2YKMEO#] MF"!9)"(D@:`).%%-O<8)=35V=/46P":ZVIRFUGY"UC53?8.4>;0@+0A@&.2U M*OM1)68H1\F]L4:CR8%!:YW'\[W0=`H]OZS$'2+Q;#SKCT!_.AW,IEJ].=7\ M*9>-]=+GE_N64-*%E/MIN8EUO=E,^:O^-89#E6`1NB+.6SCWWM50GS/OF16G MRBAWY5*[K+>W]7;*D\\Z8Y6+P.452`3BAZ^3R>!I5IF`7#3-W-%6NT=+1>GM MLKH\O%2X:W5;T29NRM,K$KL/UXF&\(JZ_?Z(GJ6W#AC%H8^L( M(F3O!TM)/@;_MT&OID/VBOKA@^G[[UC27TQG`W.\2ZZNPK`@)9"<7_>,1H?A MGV[=$KC3/Q)T03\$@C*@I,\"\C7TD6(>FKR>TGUIQHU!QG7&Z5(A*!F1Y$U4G\CY3MQ^ZE@_-`#Y"]EG*!W)( M:(_#V7+)K?P8W<[MOG#,Z`/!``@.>A8&SF0#NFXP?'J8#/K3`;A\'+"_/H#A M$\B-U]5#;[&;[P=Q@1VU8-DQ`SSTFX9X*/?HK4SDYGG%;D&5N-SA+N=YS4Z/ M+QY3"F0R1&F`WQD53;.;H]0Q8G4\&764X277E5*HR%9=B^][JQ5B1\P(3CTZ MP8$NF=Z0?4;'"S8^W+?P4)*(2LR4DDQNP-5L]D1O%E-GG5J2/H@95&`MX6R& M8$@(.:)([DDT;MM9>`0 M$P5C#$!*EJVYQ8C4#L03J&PD5*98NP)KK/-KWNJB!MCM\]`#[ZETRWMU-##\BVQ9"+^*VNN,*4`A=].4#*-$HE`#0,@HT\>'AIG]FC=F37ZFHAEH4YHDA>0<,?T:`W,V2=.X$27LWE4^B7V=7 M/Y9003-`]OG<%E8*+:$'-@&6X+/GV63A?PK]5V3!8.HY^7.BW`I*09,GA:1/ M=;KBJ!RF1/!!:;$CLIP:(.1T]6@G4,^(U/,6(#`=O>D"]CM:&BJ%!CA_(@!^ M8/X3"BS3^0V:_L"U'\UP>QA76%11>H`\_I*7[6];8O>(W]1@A`"A!#`I0&BI MSQMP`JV,0[12D5!@GW.)W`*%-M#16XB+V'(')/)**^PGT(N M2KDL%^7(M5F)NQPGD5#*ISJ-V[;QK4EO MB+X@/!\.X0KX<,TNE@0`*LWS M2=YN=M#()P>[?98CS00./2QK+GT(:788,I'.K,^3&=-4;$N7S-[)>S\F(-?@ MR+,XY%$82!X"0L$5*<]2K`;O`18?2VI1RK[)TU_2F#1UB$?X@P MV[498OBZ6`KP_07A^?XFH++,H0L7*`28Q-(W79K1U0/I)7B:Y)YC^39Y^\PH6P&M1XM*6Q&,[& MAKR=Q043NH("S$"89Y=JE*G$]4)F_.\(6\O&AG*Q@I??4?@"<$ML?)9E$+GX MTW2<=V`3RE3>2'QJXW>/^T*)YED]U-FQR#LNQ@`0#G1VP_(I$R:`<$DE,H_YJ.W4SFX+WM=]&DPF@T=` MK_#^E[E:_Q6,9S\-)F`T?OI@Q3;1#""9,:IT-3U0.CS.MQO1FU(I/%6A>SN#HND.;?CT,/XR`+/^ MKX-IU8"UM\D`TP/$>E`DT@??&#+/0' M]-3&/9GV/O/Y_MZEQ2.IJD3A<:)*GA]MUT7O%Z]2CA<@R1!PCH"RY#="*%,@ MN%9A85.9N2CTI[/QP\\`=Y_/@Z^G`4LJ)IS`GJ=97N4+D^(3Q]F! M&Z+P?>@N/'_%@E9V8K3R]94OJI803L9%V^0-T29;3Q4T00U$?Y).BC$`"0[G M3K*6OXYU'O4;*?43Q#7HOF?QZCP&,$[:_FI6KPZ`>;QP5=:,YS$($1AF[`L MA\,G_-UV"NCBLHJ.`N0*()MXO]';`AW?-N=Y2B@M]6]F3(XWMCB=Y=*02"#A$I4S_+U9)O??O.%6V M[Z?U5^?YSR*M7QZAAEU5'I[9F.M.WK MNYJK\_09)EO0*/1GQ7Y->$JW_W8()Y7U^7!)T0TIT57Z:](=MMTT4D['ZN+` M]$E:RR@M!LEG:VVU1'%9A2N!F0)()CSIM?A11$$DD=6%TM&S6G>L2E$6Y@>Q MB74Y&D^G'\#S8$)6Y;Z,G\#TI_X$?_\TG@W`)ZW;6H7>EEQTRS=+%4#RB)Q- MF'OI/:^T1J!P$63O]1GY4.&4J@&6\FJQGF$X^CJ+=WW_G0"SY7E%D$D:IPJ@ MV;(W#*G@MO=WJYT-&_-70*[0R>B[8`.54"3.'63K$]M(!FL8!6.%X, MWJP7W!)P@F(Y223&-BB.LEC#;9KQ74`2$/QB[(31VM M"8+GL8*1L(*W``O/AVCIDF/:S!J>2[.[:T7F`:Z=`FM9RYU_LL^V5AXP1]]T MAJX-WWZ&[QG3V.QRBJ;_FD&^YLH\73ZWD60EM1@X.OU/O=,RTH"H4IJCDVMJY&AZ):FJ0NA(9CPJ M82)5H,I\.F#G9Z5`*9%7'P?5>B\%"3W/`QPAO"$IO#IOWGT"(%,]51[Z"3G0 M?\##K:7GYP]OTJ64^FN*M6Q\$Z];$:G-(`@HLMY#]7$**6).D_.=)VT0^^J MK,JO)W")R%$H-WPR5UF[=9G%E'IVFK>L0]RV4ZX=$P&$BB[?/E@7HYPNZKP[ MVX'2[IVAM9:%)3PY#M^_P/"%O*#T"@/V5H5\+I(2!%0N*DE+)>=OG49/8(=2 M!HPT2-"N5AJ3LQB`K_'^,IC.ONA^2JR\XZ86C'[2)SDHZ.V^/*\XBJ9*_!XCJ.3CX]TF?W>),:.W6CD[ M0/BE+O*D[OM$/$',5!/,%=G)2-@IQ';B*5<"EET%OD'?(NE%2#X\NN3AK0E/ MK7GQ3H*?5,PXVM8GN>Y#0V M-WJ=6WZ))WITV5R1][3I+@=)9@-K#DW_@R(6P*0\KO!7-`U.01EZ#63)Y;P& M0F*28T88FZB'O%H5H@7AVY`"N31]/ ME_`O<28CDEQH1S<_-@4C*G+V+)C?FD[TNV-:?Y!?UB_O`2('FX/-G*R&65!Q M0I^3.0V-^%&#D@W`A(7B)"$:KCJ=3$4^3)OUGSX/[T<#T)].![,I;FSLM2R) MP8.6PRLEPE=T<4G"*#H&9Y]]+PB>?0_C.Z=G3I90.'!*L)6<2?<:?&9#JP)6 M5T]&Z\.$[\3"KTQ_B;0F%LAPC.088EM#';[+$F2/L"!D!,.>I-S@(#]F>=WP ML.T>DH,"K-R,)!7Z@ES/I[<%<0C#DR6*QB25G/E43CNKE$`A]A2J)7FTL2'N M^O*4]80JF]O$TH%8/,#D$PGNJ81`B`B$C+S3W"*8NRZB)Y14LRTZB;:X=##9 M#WB42$V>2N%%AG.0V1,/#"$_C:8SK&F(&G(@#;"!/,K\F\OW=:SV.?B)@_UM"DKXT$CTC//8? MR;8.FF]H6#K&4XH)5PW,A=+*.3TYLEH6Z>(5GOA1[K$/4KR/BP745)O(4Q+& MNG'ATLR_[:/4:%UBM*^N+:K#:/Q0O<'#,3`J'3KV&UA?7*'O'Q,IY;K8+IFQ#Z$,('LC+'T0HK*(< M*]ERR#[#VTT#ANQ,5NITP8ET3-X9HSEV]:.EV.5V(5-@`ZVX@<$$6A"]FG,G M[X74[+(ZD)(40'+4T]J:%+*UJIB,9EP7"=_#WM>)6:1W02(L@YTK&;?MVI__@A,0)%ZVSHF/TZJ8A`B[7OO>* M`CR>_Q`]!%0II&2[7"96,HQRDB,CF(%/'C]ZA.QSZ/8MBYR6")[-=P),_+_^ M!MJ5]R@Y9<"[0]TGV'-U"9O8+WB.;+G!Y3.DK[:RLZ5\%=; M1;WX2,HFX$=77`#IH>:_!/$A%O%T6)8.)C.R>%J+%68G8^+7I;RY@Y9\8XJ< M4TD<<+'9D`M&A@JBJ1>F3FXT@X7C?0\4'U)1ZUPBPC/'$CS):V*"*^!L`>U%J/#J\@XW/.OBKS1*;:.DA,S)XS>T;&:4]E=TV`N1W:9 M*<_^JFJ'>7OED7P5JB?>JB^."*>:(1TS`CRERMT4I/U"[10._:0==&L<*&>: MRJ".A(C$3(_'CC(MGT-!-P:SQ9+SRUYRO3L3BK2W22U<<`;:5BW.8('=M8QU MOI):H5GLQ7L16F"I,\W>DL]0RHVJ4C7TS[F2XDB.WUI&(YY.D0,0/(/1GEF4 M+=ZL(R^=:9\.'*AW?C!)/4-;B?'[@2JF'[3,>TI0TW@["V\%0^D=$U2CORZY M-R!56VL_??AJ>ZO>*^RCS[*I<,(A\[&:=POV&:K5/9?9<)`V4E7P^(H#A.?G M7]Y$@DB<:ZX43U`2]"J'L$!TYMEA5+6E62KGP_0"5+0"NF\J22G'3=]HJZM(@XX-2KXHED5",[D)[5P/JSWA2 M9R);#*GY>K18CF870:7]2XJ8UA`@(Z'D`:NZ812$`\XHGD"*\P'QSA#C5IG> M^,2FH=VTL(+8^;GBVS[\9?1DS$C>VZ]6#"@#D>)X(&UB/;$A??V[S,G0_365 MHGZO.))'QAJMJ,??3F%0L>.BI]0X.[V!7DQ*NV8:@')FT80V>FV2QX#\ADV5 M4HNB)&O)(_NWG>AD'+_,S.MKZ^8.U:*;TH)W8/SDVZ/F46JFZVQY_H[:>KR< M3]-W,R=E%E'JWS%?R1OFO5Y7.#>OJSZ3S9'B&VGQF3OW-;OSKH^D?7E+4UV. MS*^\#=W^8H%GMSCJ!-/-/$`V,LGZ#>YC/(M^BP=T_^TA-_P%%\>=3?[\Z1B: MBJ%RL*"2*WM-\4Q@\NXIVK2;25+D.1/TI%\ZH:(T9])L/.N/P&C8OQ^.AK/A8`KZ3X]@ M.AL__/S3>/0XF$S_`@;_^#J<_::SDY'UT&0_(F6I*L)MSZ:;=/4*P>__JSO; MWL21)`#_E=;II)V5HCDP(9"]3X20F>BR(0)/I-%^.!G<)+XE-K(A.]E??_WB M]@MTM]M@NCP?5@JS[G)5NQY7O[FJWGY3?RC*#!I@"+[;=@;;>1S[R9G4[9C5 MZC-@1L=\RZ+ZZ8L+8;A+[VYXPM\92@)=*@(\L-4WI1#*QM]F,S(Y*H:TEE"R MYT@*'HK&M\/SS>/1?@-0$FJ]=_N]JUY'242;8LSQUO$3'&W'PS!LR+H!!I<0 M)]/5.,9^L*T*%9)+K2)R>'\S]^EF7\4R&30M')=RWI!13<5)!C$>9O@]6K^S MTUO3VWL7W8W&-%9\;P<3&O59A^E MHI&0C6X^$)5.]X;LE8FJFK6"SK[/V"8NX/R_-NNG:D?W6(KKY7O0)\5DF`)YFB5:&BVU=4=-(2W$FOZWQ M^;0.*,?G-#PC?C"C]0QK7-J`757'M9O9XR*R3E`K&:Z997LXN#R2Y;9&Y&;Z MI'#,ZF>D^8B(7-5O+:([^[+NV(@L$P!/LT0K,X^][/9,QM7Y1ZHMC?HTF8W:3[3&P0U(5G5CNPD^+C[K!+62Z'I[=OU!IWLDV6V-S\WT M"8O//R_-1\3GJGX#HCLO%*1V@\(U=IG,;VRX_=$3-:PI;H4Z66`$'66!(RP( MBL4PP4+]439DT3RM8/+I83J?@^XY29U]#]P]4QO)4$BWVQ(WNA/EX[,Z0JJ0 M:=K*=J;":I7,`L"@VW%XMD(FD297SV3F9:+.'@!E[Y[F[>SF=KHP=NIS%#9J MK'/J0[62PM`0Z6QRA<:L_PR:^U28),`$\+ MOM]%,0Y>0GZB_UNR5,_+_M^/?[+*ZL*[WXXDEBM[/ MA*1S`1NWMPVJ!9O,2.DY61QD[)<4$Q$Q50T)W5!!.?;Y54$]E.LG*D738FA< M1W20&0WPU=*N9\#>5L5^]+)[@+^W++X`#EZ%MIY2(]-RIO$]&<4;Y$HS:&![ M,J[5QLB7!WVG5Z@:0&N4Q5@4#Z.IT6*\ILF9Z%3.6Z]1%*.$OF&B%HL= M:5S4AK1)=IO-FDV[2).LCEE)$UJ=C8KF-0X21/PQ(=<3W5C%-:E8>CWQU4T4 MLADJK\"V>]MQF]**@/UMHT5=*4E]O>V0H4\+P"-IE>2B7?W_"5\]`*QXU M81L?(DUFOZ.'Z>BQ%=^<5/K9P7A&V0<0F)#[LP7'Z>I6A%C%\Y-=:1$-R>T- M\V/UG?1@JA!!9R29$*`DE*>9PQ)1LGU_,3!BHR!(#C2.5"1`93>D[[O1B&:; MC_%33%=*MQ]/Y`%LR4R"9IS8O*F7_&H(`""E6BLSC^L,1([+#"`W0JEL)(0C M)IVM!63R@=EJM`-X[G*B[*M'R]62X?Q&6$['W%AGLVT&S1U:AJ9AMX$0&Z=I MTEE>F":$5)X3B8SZ M8C2-^6ZICYAHNAB'F'"8L6#CACMEPQ,J]H+$Q!B]4XF@4-;RV1*0YKT$#R/3 M)1GMMJ]1'/RM?C?K&X'!MZ^)V:1DT!]VY=!Q>2@7V`;03C!2#EC"K?2T5L*` MIO)'-6#2WFD+6/=)LJL%5=H`&"BNA6'FR4'W4@L3%]8>D&H;)X+;\2C"!V>],WL].14_.LFCK8!J6N-7(X_OFY MT\VG1)+!VV^HV^F(?XY6:(YY606VP.%<=#H=^M_A!3?_1F$4XC20\!@*.+N5*Z\#IDPB:M+0+9)4ZAI]Q]JX'&:"L=*"J;B)LSL%F#7:* M!HM:B86JB.5RB<"0F7KL'G1&W04#8;3$V$_NB*$SHF:V9X$7:OHT3:QBI];# M<$'MJILM:G!9B`I#N32V@4;D07'6B(5.R<)/<2;I5U:(V`O_1(LHCJ._2`Q+ M+E`HK^IE#[)JCRS35=%)T%BQ4#O=L*\2)C]PO`P2S?I&53L@P*3*&!Y0[UWW M9)3QH6=@:;A?%,^SOV/EQ$B&CW6*[VJU'RV6T"P\JW==J:OOX MMJ%>9J=1AU?=/C_(G8FEWX&@3#`;!J:BD9!M]UQQ\P9W[1I<^Y#+F
ELVF M!]Y]8:FGL=3*>>2:I&8GD^MT$T1<+@[,Q:G0L;<)Z$?"]+.4Z6(=O/`/=Q7! MHXX$BU&[AEJ&2R(=496H/`O-3SBGXA&3CPHW`#J$=IXN&!:.X=$1\S*U>LVL MCO16VPKW1[AU,?K7[3D8$&)_XL4A71\8Y9_VW.)5L%26M3!H:)73*FT, MOU^\[G0$GEPB$B)1029*A<(,M!LUUBD9BU.1L-29NF09-J-.@6!L[JUQ,L/O M.-QA]41U_RJ+].S=VC!1AS-(3U.SYBAM#S?_/-Z*+*%80D5`^K["58J.+C,3 MQ*OQ"XUM,_%I:O5GPG5:VO3^:G4,WZ>7XMQ7*A)E,MOQ>>=Y+&;TW'R;WS]. MYG,TGWRA2S6@&4IJN&:)+,-N@:%M362^?,$ACKWU*/1'_EL0!C2YUC9XQ^GF MH_)Y&S6VRIR)1H8G1:Z&?8$=DXI2L6QAM"Q8[+A#<=>PU4[!Z@OTDII-]]:] MLMEBWQV6RCHN7`;3N-]@V*2GAT;EPS>_X[<%CI6.H&YAE4*E&H:5O`=.%O'2 M(U;[9\_^X/+`(ET3%LJ.H66'RF"1JO2\,D?ZWH"#YZ8V//(6UN&1JF%Z.LH9 ME."Y:24\IUJH@^<&'AZMYQW"H^X-$'CH"=8;+\$^S2U%@J!L0ZWB8IO(2#4P M?!%GV0^8%,3$H*(<($A.M8F/X1@5RX($,60#)43K7B4XU+T`PT6PV9`1XU@Y$YYO4W4 M5$H8^IG3%V,Z(0@Q272/-QW346E0([H&K&,4<9NB:INL453E;"5PM-T`RLI# M$&*6@J[J">870M"1W=TPY]GUY0$6?U`9//DA-`W'6./4L\8Z!P>.)`6@;#FH MYT]7-`_8W3KZJZI6FK8)!`T2/0PGR,YU=Y\+$BA80C0F#KS*64,V[M$2U;#1 M.CD:1Y0RI.H98)JR8BQ/4<+2[II3I6X*0Y=2'\-IMM.[E%"6U]\18MM$6Q,V M'U)7VV8`^BH=5T&AOL>`:>3IWLD,39($WAQ,(RDPC)JH9IH68SB4X)H6<*!K M%-+*#BUBM^&^.,0X-=D[KB\`F*[C_@J\C3L5E'17DYE[[R((3EWS/-6#7M\Y MF+.Q]M"`U35B?ZJF-L(Z&:XJP;;$6!B_CI9_OD9KGSP<^O':]D/Y<`XNM.K? M^W76M\.UZ\#UK/AWYS8DU_WA;1/L/Z_#_6_#_@YN:#1`Z5U=I MJL&T,>*M[;KW*D3X8WI$]U>`L``00E#@``!#D!``#M75MSXC@6?M^J^0]L MYF6W:@@)Z;ETJGNF"$EZV4TW%,E,S>Y+E[$%T8ZQ6,GD,K]^)=E@`Y(M7T". MT%37T`V2?,XG6?J.SM'1AU]>YG[K"6`"4?#QY/ST[*0%`A=Y,)A]//GUOMV[ M[P\&)[_\_,U?/ORUW6[=7'_JC5O#P(_7XWO6MW3\U;K,0P7EYW.\_/S M*?!F#FXCWOJIB^:=5KN]>O)OD8R7K1].S]^=OD_],D;+P+MLO7-_.J-_)NVS M=^?3]KL??GK7GIR#;AMX[]__^,[INN]_^#%5JX]!))Q'Y;YL=<_.N^VS[]MG M%P_=[N7YV>7%V7_2I='B%R<_L@1\P\L$83%M*T^G<"["4(8O@Z"*<)S+OU)B[7_ MZWBPH88/IR"$\H-=VIJL"8UOQZ3U\/P)XQG-["@'8; M=/P1(I`]HN\[A,`I!%Y)/10;/Z0F(P>#LMU2X`GA(VW*=?SZ=:/O-YJ#ZAK$ M[=0NWY"JCOMHOL#@$00$/H&Z)):V7+L.?8<\WOKHF0P"#V+@AM6%WVVR'JF_ MH!"0![0>C^M'DBN'0#*FJ%=)5=H1\Z$+:#G@) MKWSD_E%2WST)LV^D;OZWI',KY1&/R!L$3X"$_.MK2%P?D24&^\.EP*/WC<*` MK3,S./%!CQ!P&/55GKEOO:_!)#R$KK+G[%V_]3/I+$1G3SIU\O=O#'Q:Q.LC M$I+[1[IH73%>/')>>:T]XE!1GKW/!@X.Z#1$1@!S,?;X\DN?M/]WG2V\;!]:WH/9NQS#!8(L]7E$`JK/'/?>M,W:PZCQ80NM'W$EU9J5=.%]1`0 M%'S\OM'@U'%`_W$0Y;.?%NNZ2%$AMC>QH30M#`*/V5W1M^R!>S`AN214%BK7 MQN-]9GPCO`EZ_'1N81/@GL[04\<#L,/V(-A?^&9$^^P\MJ^_I5]][=%'>^SQ MM[XS6S7G.Q/@?SS9_;VS=WGZ2\R,LUO:+8[_;^#@F\"[IMTF$$U:M)B4NT.5 M??-5I7MZ$Q)BAQD?&\(5K[]_7%=B1&C1]0PB[Y9^1P3`RLL>6D[6JVI2)B4/ M)V.$C'R`BLL=3KX'VFR&6/SG_4L3C?H^?2!V?&I;@Y=_@5>!6.)R!Y./+H:B-T-8;/_2W8&9XT?/[KU`T5RW7:*\3%.'3/CV^Y*T M9XZSB`0#?DA6WVQ+&'^=[+Y1+@0X=]H2-*.@5GD?G(F_W=N20OOOZP?LL-GA M_G4^0;Z@IS=_7\N3YJ(]O"F;@]U50_2O.T1TT^$2E^@L^!YXVWV$_IK#3C&: MEV$O*VF0%-<6PA[`W'-(_SMI476F@+(W[R[27"HNES4$F`!>DM6$"%,Y/IYT M3UI+0E5%"R:,HP>LC->7P;$[2YL*1/XLL<)CDYTD>'2/%(\M"RP!Y.)(`9'0 MZP28=T<.S(YME$#SO85FV[Q-P/GA2,'9XAP)(#\>*2!BCQF7'5$^` M>7^DP,AW)=?8G!\KGQ/:_0DLYT<-2_:V4H*2X>1WPP1?(;1C-QV-;;0#1]:P M6J%R=K9_7#YTMIU>!W&%*48A:MA$BH.>R,AY97T6KP.2S21)81V;7RM1QL`% M\(E)\P6$:M(+JVC2`2^!MPY.`"17`4EYC=+?06<"?3J2%:47E-U2*H&Z75:'U"R8FH45T0\60/OD^#S0*.P[&+]2 M[ON;XR]E/AFUNEJT2MA\I@+;Q>H)2(E9WYCU;1!-J'X:^3X?C=K`Y[431 M(,ZIH:._4Z0SX<^23A:7U2/U$QU4"+_N`BTLHDO&^,S%(.A-I_2=H'R2W"\G M!'K0P?3]H%V/7/XM'1'_1#`(?Z/%E]1FS5"J?)LV("1",35#L9-";+E[1+X' M<'QF1@)^;K4FZI)#O)2K:]8M>Q%MB.VY*X8Z^DW@OFSOC@RG?;J.PQS:(BRJ M1>8U!PS`2AZ9S**B.F3FY#5>]O.(E;BL-JE7&/(3"O%V89;DPO(ZI!^M]IYS MC2!124T2+QSHW;RP8VQ@9?.HV/XJ-?5HA!8`AZ\CW^%&'%MB%HS,R%E<9A4= M.HQ!2`T(X*T.V*5V"JD-!%WI[*-0T0;'%I!7X'')66V5JIH?\%M%3D6FW!!N M7)@-J_!?#>Y7\;YTVOTJV6M=^Z6[9KKI\X')7G(2?,P,6,P,;\T?7Q)3)P'&S-!6U1D[C429F%84.OY;0$*R'9(&1-'QEN!E M9JRK,E[9@3()3&9&OBK#M.DI6,-R86:@GC(L2IL+"5IFQL(6&$1")UF"C\GT M6@&?3+=W@I+))%MEQI:]766X8$SP,=.F+8:/]#1X`I.9#O-B,*F$[R:(F6G* M%AQ811,J)*$'=FH7Q\PF")4Q;HM8)(U.B[-YFYV.#`6^CY[9=9*W"%^CY22< M+OW=L)J`W-/=&\: M4`6G#<7*^O52G#QR*C5%C\PI)*-"4^3/GTCR:FDY$P7XF8Y-T3Z#^01@B199 M-?1I<%58`W$-K>?]THQ+,+OFE[+']'].C7-5`4S6U3(]P+8/6K@%G M>D!K>916YJ'IH:OE$1+?R'"4=\`4VCLV/52U,%09TY*A<:HE(=J9DPR-3BT) MSW%>$6,#YFS`W%X"YG:-NQB.\9BD)N=(1+I.;[:_@$/:H36;&J:^#Z M]$/!(RROJL<]3"BF+(\3#P`'^`FZ@-PC7ZZ)M((.^5=Q;"LPKQP"78GHXK)- MD/H:^LM0.GADI4UQQ9?'\1-&A(PPFDJSCJ9+Z+M>@`4(WM*9OH\H8L&2=N9P M`3"?+,D5F"(,4D>;/L.`S\&#@,[,@(0\N5JZE2B,[C.@YHJ7RE\G0>"0$NA' MN`HVS=-JO>SE^.EDI;5>J!'G5KH"`9"_G[+2>B2/AGLLBE3BS5(V!"G"Y0L( MD]=)@MUF&2U)W*-9+YCERBHJJ<75[?@LZ]83")9`GB=\NY2>P!2?MCG[1%]A M[+"CW"QH++]@QHG3$8JW`,U5,@"X#*2Z`2_?O#`U%J@80AL&`&8;7(#W.&HF2'2BWJX\B&9/Y@.NH@D*UMKVI1'Z:\81*O7+5,9*:, M&*GSSZ8D4_>R'TTZ,ALU9`-CU`)C9-EI-(7*;(N1),B1Q)7(:Y@2Z&`=?AH< M?I*WXI;:5'`61(>;W%>^!>2X?$J+-X3\:(+S_KN,*.]J.-+%"#(J[&+@$+8D M\4^9%_%0C[<.I$(GH:->8/>M[?:-^J%HI5:LJ\SZ@PYD=!ZU-^AP,[WU+>5R MO*/Q-15;2H[1YV]-6FO2EC1IV66XMSYZ)H/`@QC0]TA'ELSUND`>T!BX*'`A MOVPV68(?$)-TA!';K_*N7G\E[+**M3>P1U>;IRC)?C:UW,NC=/#/WASA$/[) MA\AP>@TFX34D/+'$"(,Y7,YE`.36TW)(1NUJ9O&^AE)=([7ZVFV07H6L]D)- MZ-#Q&M!)V(5.S&+3KXU$I:P:6HY`3:=T/A].;U[<1R>8@3&=](>!&'B)2H6: M,&4/L0+B+RZ@ZX?S$ON[F7-WY9T#G+Q2YLH'1'R>.[V:R+J@4IN-/2[$[9BU M]VF(KUG`$YPL>3R&!(H:&BZ&![OJE6G9/;N(=>27OV[/3X-@ZS*V^#*M./B! MK"^(3:X"VM*PMF8U];=$[O1-YK(>S:_:&)VV+DA;7QFJKIJDA3V-RO0EQ6H# M;J-&,W!/P55B.(EK-T6S)PHSPO*Y/[M.,[18VT7Q=3#YYRA5&VB&?M0J6CC0 M6[T9\>2[FGNC.^^4=55JS'H_UUOP(D-KT)^B M!IJM7[G^S&JH0?H*-LJ*Z2EJH-GZE>O/INTHOHUH$\J9N9V7,O(DLHI*ZI3X M`?5<:K-B0`<"[?KP=>0[`3M:P"S9Q7R7I)=H0,_-%<@%P.-&^9CRFS7J8"+5 M**N*;AUX8.R0.VK(S0O`+B09EXCDU:O%MN-3!V%[/`B/@;=TX]W[K8S2(B-/ MM:H.U--=?X>"V0/`\]@*N&.$>3CQXQ`:BG3I9M)"XL(T[*Q1W MMO9HJ@>9[5:Q$67Y[O5]>FV9D[[8S*=VI>H;/EFV;[B5'%^FW[QZ*)`5O/?5 MKG"U4"MMBB<@FQG7>:CQ+.,Y";YFQG$>"M\Z?*I)7V0%C-H54J4SE)T@">AF MGJ(L[A#*1E+D.E:+='[#`[=N$#<\BVI9=BQZ!3U^:NEXC@[6^@)D3+^5J?Z7 M7A@H87P2H#VL0+)`'U.O=;)G!+?&5'G7_.:-:EF.$=,OP*H?0XECQO0L2?4` M63$VV?2[MNH!N9!#2RU7TQM>F6N:`40.?[5$3D>/79$0NFKYGII_GKA\>)9H M-*H$G*3\6NV;.`Y60RURT$N3,?(LK(9?)21/DCOG2^&)' ML1/,S-IF+(99L20#:\PNRNRFF;(J*":<2,`JL6.VX#U`Y<'AT4#VM9L&K<0. M6`3:3>"]$<@RPFAM@JWM$%V;8,LFV-I,L/4%A8!:BS$SYC%G(,@-FP@!J+@*V,95!XIK[;J'$VR9LM"+0LM MQ4(E!PC8&20?D24&-7#.9O&M"DG]U+$2K]0%&K!\TO))RR\QBCP/ZT&`&V3D>?AC*TD9A)LE\D,0KL4I-2Q0M4;1$T1)%2Q3K MOIA=8=:V#-$R1,L0LQCB*J%1;:RPRCTN8E'$BYNLM'4[6_9GV9]E?XU:H"S[ MJYG]2=<*R_@LX[.,+Y/QK5^;X32=3&`,?':$M8](2))T`^M3M%J98461)0RR M8JN6:5JF:9FF99J-6A@MTZR;:59=>RPCM8S4,M+,&$<'!S"8L1.C_$W2RC7E MPH@7/WEYRP\M/[3\T/+#1BU3EA_6';`H7R\L\[/,SS*_[/C$.'6S#4P47W$M M1T>\U&96L1304D!+`2T%M!2P[E#$K'G:LD#+`BT+S&*!]V#&/L=@P:Y:#&8& MDT%+I`Y(3!2&E82M*-2TU-!20^,6,4L-:Z:&2G.098B6(5J&F,40^V@^AU$F M`)8!%O%\4B!@V:0:2R=A]8;M#R_=H?7W__[>(?EH6\]HT[0#T64T:0;]T1)>@13 M&UE6-M6WA5%-=%9W3NKGN9$!3UC41"?AEP;\&UF-$V=LG9Q].;%&#CFR2'1^ M_OD$'X7G9Y]SJ)8@6(%"%(&A3734<(ZLQJG5.!X>'36=1O.X\9^\-)\]"SIY M4.A#^!&$01(0SE(`/B&?A77DQC$::%&)!D02\4BB>JI)FB@@B#&3E[6$5D(,R/% MN#A,U))I,1T31:=D)#"+I$D636'C>`G&.&/)M#@,D1*VGM$&(0NDB*!A'OHV M;@VC9:)7._,1/[47@SGI$/)6B>=E<4G"^H0_VNE@<30B0HM1,%",H.R12%4, M6HRMXA06$Z*Z>$KD#(=DJ^##ZS\E3%US,6V3,4YBF/FO!`.,DJB&L()E8I0H MLB20L%>1KUK+!6:,*_.2FK;NF7M-@\3;6WV"6(>4U0]^S"3F)KY:XA&E[5*DB^V9=9%9$P9-5XX#0=9*(/G M'T$56NA".647]JJ&5>4)+*<]]M4\AQC>DM@`.]!.P:E$&7`F8)UB:@?DJV6; M<6EO1M*[`T2;5>N-KRF`%I#CNU$$ MSZU>M^UU`Z^MGX)>QV^[0VAWJ;,.IB4]),9?I6#ECI]48"X;P<>=U@:W>->KUO8$[ M]$'@P%5UKGJ0X:+%I^#,`V&2/I(R]C9*E_-YM@N?K=Y=?^#=@IS_S4-^%]K> M@=GJS+:P?+B.^9/T640%"54QI>MBY5Q^WHE+-[A%UYW>OP[OYEL,=KDB?AGCON? M-$%YUGS19V,JPYC+1!!H7+F!;U(#WO$`TL2LW,CM0N;' M?O<&]2&M6KYW2)[=D\?[*X&[R!U1#SSRS?W0=+]RLEVJ;*&N/#'.5Q/#[W[S M@J%9.0YT[TRWKR^S$SJ*B2LEV9WG*GI*"78:ZP0/W>Z-?]7QD!L$AXO4/C2W MR4CM2NTF;#F=SBJ=;>]J>&!P=P9?8@E',3A8PZG:^#<@$"$2M;A4,GB`J^B5 M_J*]CY\-:DNF]YRC/"..5C,B&/9:_S3'=S@7FGW]D!^[[]M8,#AOR3X1AJ(M MM^F-Z').C]<7;7W]0A\ZO2#XB."FK?F]@Q-;<.L.#M>R?39J?7\>XOGN.W2) M@G*63S:P/'2_'\[:>W`:D(G^')`9%_JRM"NU5?24,WRZ=NVZ#_RN%P0H\&X. M9^S]:(:M=$H7]QZX)K>XN1@3IJ_%NS*^I:.I?[2]KDDYG,:FE?5B$ M&E]>]F#/!)\16%2)M#.UF8(U]'*=AI;6JQZD%KY,8P7'`5#@>/M%S2_B=XQ')*[H,L@6 MN-S1&GX1;U=?\PI.`Z3`Z?QWR46^7]CY"A!H+5>(7(#KM+3 M2M.55G9MFM9,65A*9I-8R1==UJNN[:._5L%5*0BK*!V)84X;+&7H:LE-%5,B+#Z(>])E\OQZLT?PZ6 M/F^P(BW.,V:8G94(0:(!=,$=PIPT.YQ-AD1,.Q2/:$SUMM#E+$R$KG!9'%CU M8OYC!^QBBS+EK,TI9T1A\:P/MOK\5D-X))7`H;JLC7%LMB`C"%L3Y='00!?+ MK\J&1CC6B_%E+00[*'0S&L-^JO<2)1*]M":@DZI$!^Y&\&26S4YAU@TAJ5#F MYZ:6YJ.Q%2P?".B#>UM1&!8^K$;+LE[^);@ M3R,W(J-WXM9GD"BP=[;)XM-GZ8_4LH^?M6YH@N[(F^NOO8E\2>O7=,X%Y%VT M[1VUUV3X'X8M_^Z71F19\%=P=O,]O."MKR+\-WK7*WP78=QZ0V[AT:*ZOJFR M_AV)?`>W^H(_4OW?0ZZY&)`H"36V-V[S9*3&29R]E3D'*R-^7L;NOF5=V(L3 M`3S^%U!+`0(>`Q0````(`#6!I$#:]Z^9848``+'J`@`1`!@```````$```"D M@0````!L8W5T+3(P,3(P,S,Q+GAM;%54!0`#AC>D3W5X"P`!!"4.```$.0$` M`%!+`0(>`Q0````(`#6!I$!R/I>GD@L``(J/```5`!@```````$```"D@:Q& M``!L8W5T+3(P,3(P,S,Q7V-A;"YX;6Q55`4``X8WI$]U>`L``00E#@``!#D! M``!02P$"'@,4````"``U@:1`)>'4A`@2``"3.P$`%0`8```````!````I(&- M4@``;&-U="TR,#$R,#,S,5]D968N>&UL550%``.&-Z1/=7@+``$$)0X```0Y M`0``4$L!`AX#%`````@`-8&D0$WA:BY=)@``=:P!`!4`&````````0```*2! MY&0``&QC=70M,C`Q,C`S,S%?;&%B+GAM;%54!0`#AC>D3W5X"P`!!"4.```$ M.0$``%!+`0(>`Q0````(`#6!I$"LP,CIOA(``&]W`0`5`!@```````$```"D M@9"+``!L8W5T+3(P,3(P,S,Q7W!R92YX;6Q55`4``X8WI$]U>`L``00E#@`` M!#D!``!02P$"'@,4````"``U@:1`S62_#),'``"R,P``$0`8```````!```` MI(&=G@``;&-U="TR,#$R,#,S,2YX`L``00E#@``!#D! 8``!02P4&``````8`!@`:`@``>Z8````` ` end XML 15 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6

INVESTMENTS
3 Months Ended

Mar. 31, 2012

INVESTMENTS

NOTE B —INVESTMENTS

The Company owns a 30% interest in Grupo Vasconia S.A.B. (“Vasconia”). The Company accounts for its investment in Vasconia using the equity method of accounting and records its proportionate share of Vasconia’s net income in the Company’s statement of operations. Accordingly, the Company has recorded its proportionate share of Vasconia’s net income (reduced for amortization expense related to the customer relationships acquired) for the three month periods ended March 31, 2012 and 2011 in the accompanying condensed consolidated statements of operations. The value of the Company’s investment balance has been translated from Mexican Pesos (“MXN”) to U.S. Dollars (“USD”) using the spot rate of MXN 12.78 and MXN 11.89 at March 31, 2012 and 2011, respectively. The Company’s proportionate share of Vasconia’s net income has been translated from MXN to USD using the average exchange rate of MXN 12.98 and MXN 12.09 during the three months ended March 31, 2012 and 2011, respectively. The effect of the translation of the Company’s investment resulted in a increase of the investment of $1.7 million during the three months ended March 31, 2012 and $1.2 million during the three months ended March 31, 2011 (also see Note J). These translation effects are recorded in accumulated other comprehensive loss. Included in prepaid expenses and other current assets at March 31, 2012 and December 31, 2011 are amounts due from Vasconia of $0.3 million and $0.2 million, respectively.

Summarized statement of operations information for Vasconia in USD and MXN is as follows:

 Three Months Ended
March 31,

 2012 2011

 (in thousands)

 USD MXN USD MXN

Net Sales
 $ 28,687 $ 372,489 $ 28,571 $ 345,477

Gross Profit
 8,168 106,064 8,083 97,737

Income from operations
 3,322 43,134 3,325 40,206

Net Income
 1,965 25,511 2,131 25,768

The Company recorded equity in earnings of Vasconia, net of taxes, of $0.5 million for the three months ended March 31, 2012 and 2011.

The Company has a 40% equity interest in GS Internacional S/A (“GSI”), a leading wholesale distributor of branded housewares products in Brazil. During the three month period ended March 31, 2012, the Company recorded equity in losses of GSI of $133,000. Of the $7.6 million consideration payable by the Company with respect to this investment, approximately $2.6 million remained to be paid as of March 31, 2012.

In February 2012, the Company entered into a joint venture to distribute Mikasa^® products in China, for which it expects to make an initial investment of approximately $500,000.

X

- Definition

The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 323

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 323

-SubTopic 10

-Section 35

-Paragraph 32

-URI http://asc.fasb.org/extlink&oid=6903645&loc=d3e32787-111569

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 18

-Paragraph 20

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.12)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 323

-SubTopic 10

-Section 35

-Paragraph 35

-URI http://asc.fasb.org/extlink&oid=6903645&loc=d3e32847-111569

+ Details

Name: us-gaap_EquityMethodInvestmentsDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 16 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified

Mar. 31, 2012

Dec. 31, 2011

CURRENT ASSETS

Cash and cash equivalents $ 4,867 $ 2,972

Accounts receivable, less allowances of $5,051 at March 31, 2012 and $4,602 at December 31, 2011 72,902 77,749

Inventory (Note A) 113,653 110,337

Prepaid expenses and other current assets 5,286 5,264

Income taxes receivable (Note G) 327

Deferred income taxes (Note G) 2,568 2,475

TOTAL CURRENT ASSETS 199,603 198,797

PROPERTY AND EQUIPMENT, net 33,025 34,324

INVESTMENTS (Note B) 36,380 34,515

INTANGIBLE ASSETS, net (Note C) 46,537 46,937

OTHER ASSETS 3,742 4,172

TOTAL ASSETS 319,287 318,745

CURRENT LIABILITIES

Revolving Credit Facility (Note D) 15,000 15,000

Accounts payable 23,534 18,985

Accrued expenses 29,562 33,877

Income taxes payable (Note G) 70 2,100

TOTAL CURRENT LIABILITIES 68,166 69,962

DEFERRED RENT & OTHER LONG-TERM LIABILITIES 14,450 14,598

DEFERRED INCOME TAXES (Note G) 5,427 5,385

REVOLVING CREDIT FACILITY (Note D) 41,545 42,625

TERM LOAN (Note D) 40,000 40,000

STOCKHOLDERS' EQUITY

Preferred stock, $.01 par value, shares authorized: 100 shares of Series A and 2,000,000 shares of Series B; none issued and outstanding

Common stock, $.01 par value, shares authorized: 25,000,000; shares issued and outstanding: 12,438,393 at March 31, 2012 and 12,430,893 at December 31, 2011 124 124

Paid-in capital 138,186 137,467

Retained earnings 15,189 14,465

Accumulated other comprehensive loss (3,800) (5,881)

TOTAL STOCKHOLDERS' EQUITY 149,699 146,175

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 319,287 $ 318,745

X

- Definition

This item represents the cumulative difference between the rental income or payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense, by the lessor or lessee, respectively, more than one year after the balance sheet date. In addition, this line item includes the carrying value as of the balance sheet date of debt not otherwise defined (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion.

+ References

No definition available.

+ Details

Name: lcut_DeferredRentAndOtherLongTermLiabilitiesNoncurrent

Namespace Prefix: lcut_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Carrying amount of finite-lived intangible assets, indefinite-lived intangible assets and goodwill. Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Intangible assets are assets, not including financial assets, lacking physical substance.

+ References

No definition available.

+ Details

Name: lcut_GoodwillAndIntangibleAssetsNet

Namespace Prefix: lcut_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 19

-Subparagraph a

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19(a))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_AccountsPayableCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 3

-Subparagraph a(1)

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 4

-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.3-4)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_AccountsReceivableNetCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 7

-Section 03

-Paragraph 15

-Subparagraph b(1)

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 9

-Section 03

-Paragraph 15

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 20

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.20)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Section Appendix E

-Paragraph 289

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 48

-Paragraph 15, 21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_AccruedIncomeTaxesCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 20

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.20)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_AccruedLiabilitiesCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 13

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e653-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 14, 17, 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 31

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Staff Position (FSP)

-Number FAS115-1/124-1

-Paragraph 15D

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e637-108580

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 14

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e681-108580

+ Details

Name: us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 31

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.30(a)(1))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_AdditionalPaidInCapital

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 7

-Section 03

-Paragraph 12

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Topic 210

-SubTopic 10

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

-Section S99

-Name Accounting Standards Codification

-Publisher FASB

-Paragraph 1

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Concepts (CON)

-Number 6

-Paragraph 25

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 18

-Article 5

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.18)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_Assets

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6801-107765

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Section 45

-SubTopic 10

-Topic 210

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6676-107765

-Publisher FASB

-Name Accounting Standards Codification

-Paragraph 1

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 9

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.9)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6676-107765

+ Details

Name: us-gaap_AssetsCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Details

Name: us-gaap_AssetsCurrentAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.1)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 1

-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 7

-Footnote 1

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3044-108585

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 8, 9

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6676-107765

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Cash

-URI http://asc.fasb.org/extlink&oid=6506951

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 7, 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Cash Equivalents

-URI http://asc.fasb.org/extlink&oid=6507016

+ Details

Name: us-gaap_CashAndCashEquivalentsAtCarryingValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 30

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_CommonStockValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

The current portion of the aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, are classified according to the expected reversal date of the temporary difference. An unrecognized tax benefit that is directly related to a position taken in a tax year that results in a net operating loss carryforward is presented as a reduction of the related deferred tax asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 45

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6907571&loc=d3e31928-109318

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 41, 42, 43

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 45

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907571&loc=d3e31958-109318

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 45

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6907571&loc=d3e31917-109318

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 45

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6907571&loc=d3e31931-109318

+ Details

Name: us-gaap_DeferredTaxAssetsNetCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Represents the noncurrent portion of deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A noncurrent taxable temporary difference is a difference between the tax basis and the carrying amount of a noncurrent asset or liability in the financial statements prepared in accordance with generally accepted accounting principles. In a classified statement of financial position, an enterprise separates deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, are classified according to the expected reversal date of the temporary difference.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 45

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907571&loc=d3e31958-109318

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 41, 42

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 45

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6907571&loc=d3e31917-109318

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 45

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6907571&loc=d3e31931-109318

+ Details

Name: us-gaap_DeferredTaxLiabilitiesNoncurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Carrying amount due within one year of the balance sheet date (or one operating cycle, if longer) from tax authorities as of the balance sheet date representing refunds of overpayments or recoveries based on agreed-upon resolutions of disputes.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 7

-Section 03

-Paragraph 5

-Subparagraph c

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 210

-Section S99

-Paragraph 1

-Subparagraph (SX 210.9-03.10)

-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 3

-Subparagraph a

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.3(a)(4))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 10

-Article 9

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Section Appendix E

-Paragraph 289

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 210

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-03.5(c))

-URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910

+ Details

Name: us-gaap_IncomeTaxesReceivable

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.6(a))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 330

-SubTopic 10

-Section 35

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6386567&loc=d3e3927-108312

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 1

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6676-107765

+ Details

Name: us-gaap_InventoryNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.12)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 32

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.32)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 7

-Section 03

-Paragraph 25

+ Details

Name: us-gaap_LiabilitiesAndStockholdersEquity

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 21

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.21)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_LiabilitiesCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Details

Name: us-gaap_LiabilitiesCurrentAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 19, 20

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.20)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Line-of-Credit Arrangement

-URI http://asc.fasb.org/extlink&oid=6517033

+ Details

Name: us-gaap_LinesOfCreditCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

The carrying value as of the balance sheet date of the noncurrent portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Line-of-Credit Arrangement

-URI http://asc.fasb.org/extlink&oid=6517033

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 470

-SubTopic 10

-Section 45

-Paragraph 13

-URI http://asc.fasb.org/extlink&oid=6743817&loc=d3e1314-112600

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 22

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 470

-SubTopic 10

-Section 45

-Paragraph 14

-URI http://asc.fasb.org/extlink&oid=6743817&loc=d3e1336-112600

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 6

-Paragraph 9, 10, 11

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.22)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_LongTermLineOfCredit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 17

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.17)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_OtherAssetsNoncurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Carrying value of the noncurrent portion of notes payable which were initially due after one year or beyond the normal operating cycle, if longer, and which are not otherwise defined in the taxonomy.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 22

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.22)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_OtherLongTermNotesPayable

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 2, 3, 4, 5, 6, 7, 8

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.28)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 02

-Paragraph 29

+ Details

Name: us-gaap_PreferredStockValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

The total of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer, and the aggregate carrying amount of current assets, as of the balance sheet date, not separately presented elsewhere in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 8

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 43

-Section A

-Paragraph 4

-Chapter 3

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Section 45

-SubTopic 10

-Topic 210

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6676-107765

-Publisher FASB

-Name Accounting Standards Codification

-Paragraph 1

+ Details

Name: us-gaap_PrepaidExpenseAndOtherAssetsCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.13)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 7

-Section 03

-Paragraph 8

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 13

-Subparagraph a

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 12

-Paragraph 5

-Subparagraph b, c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

+ Details

Name: us-gaap_PropertyPlantAndEquipmentNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

The cumulative amount of the reporting entity's undistributed earnings or deficit.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.31(a)(3))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 31

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

+ Details

Name: us-gaap_RetainedEarningsAccumulatedDeficit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29-31)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A3

-Appendix A

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 29, 30, 31

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 4

-Section E

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SAB TOPIC 4.E)

-URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707

+ Details

Name: us-gaap_StockholdersEquity

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Details

Name: us-gaap_StockholdersEquityAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 17 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

OPERATING ACTIVITIES

Net income (loss) $ 1,344 $ (949)

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:

Provision for doubtful accounts (25) (16)

Depreciation and amortization 2,207 1,995

Amortization of debt discount 229

Deferred rent (84) (3)

Stock compensation expense 698 748

Undistributed equity earnings (398) (465)

Changes in operating assets and liabilities (excluding the effects of business acquisitions)

Accounts receivable 4,872 11,847

Inventory (3,316) (3,969)

Prepaid expenses, other current assets and other assets 410 (52)

Accounts payable, accrued expenses and other liabilities (55) (7,242)

Income taxes receivable (745)

Income taxes payable (2,356) (5,036)

NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 3,297 (3,658)

INVESTING ACTIVITIES

Purchases of property and equipment (475) (1,047)

NET CASH USED IN INVESTING ACTIVITIES (475) (1,047)

FINANCING ACTIVITIES

Proceeds (repayments) of bank borrowings, net (1,080) 2,900

Proceeds from the exercise of stock options 22 9

Excess tax benefits from exercise of stock options 6

Payment of capital lease obligations (27)

Cash dividend paid (311)

NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (1,369) 2,888

Effect of foreign exchange on cash 442

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 1,895 (1,817)

Cash and cash equivalents at beginning of year 2,972 3,351

CASH AND CASH EQUIVALENTS AT END OF YEAR $ 4,867 $ 1,534

X

- Definition

The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business and the aggregate amount of accrued expenses and other operating obligations not separately disclosed in the statement of cash flows.

+ References

No definition available.

+ Details

Name: lcut_IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities

Namespace Prefix: lcut_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The net change during the reporting period in deferred rent.

+ References

No definition available.

+ Details

Name: lcut_IncreaseDecreaseInDeferredRent

Namespace Prefix: lcut_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Provision For Reduction Of Doubtful Accounts

+ References

No definition available.

+ Details

Name: lcut_ProvisionForReductionOfDoubtfulAccounts

Namespace Prefix: lcut_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Details

Name: us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The component of interest expense representing the noncash expenses charged against earnings in the period to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate caption: Noncash Interest Expense.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.8)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 21

-Paragraph 16

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 8

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 30

-Section 45

-Paragraph 1A

-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

+ Details

Name: us-gaap_AmortizationOfDebtDiscountPremium

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.1)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 1

-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 7

-Footnote 1

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3044-108585

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 8, 9

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6676-107765

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Cash

-URI http://asc.fasb.org/extlink&oid=6506951

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 7, 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Cash Equivalents

-URI http://asc.fasb.org/extlink&oid=6507016

+ Details

Name: us-gaap_CashAndCashEquivalentsAtCarryingValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

The increase (decrease) during the reporting period in cash and cash equivalents. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585

+ Details

Name: us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: na

Period Type: duration

X

- Definition

The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 5

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

+ Details

Name: us-gaap_DepreciationAndAmortization

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The effect of exchange rate changes on cash balances held in foreign currencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 25

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 830

-SubTopic 230

-Section 45

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6450594&loc=d3e33268-110906

+ Details

Name: us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Reductions in the entity's income taxes that arise when compensation cost (from non-qualified share-based compensation) recognized on the entity's tax return exceeds compensation cost from equity-based compensation recognized in financial statements. This element represents the cash inflow reported in the enterprise's financing activities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 123R

-Paragraph A240

-Subparagraph i

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 00-15

-Paragraph 3

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 20

-Section 55

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=6576910&loc=d3e11374-113907

+ Details

Name: us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

This element represents the undistributed income (or loss) of equity method investments, net of dividends or other distributions received from unconsolidated subsidiaries, certain corporate joint ventures, and certain noncontrolled corporations; such investments are accounted for under the equity method of accounting. This element excludes distributions that constitute a return of investment, which are classified as investing activities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInAccountsReceivable

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The increase (decrease) during the period in the amount due for taxes based on the reporting entity's earnings or attributable to the entity's income earning process (business presence) within a given jurisdiction.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period in income taxes receivable, which represents the amount due from tax authorities for refunds of overpayments or recoveries of income taxes paid.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInIncomeTaxesReceivable

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInInventories

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Details

Name: us-gaap_IncreaseDecreaseInOperatingCapitalAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets,or income taxes.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The net cash inflow or outflow from financing activity for the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 26

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3574-108585

+ Details

Name: us-gaap_NetCashProvidedByUsedInFinancingActivities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Details

Name: us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The net cash inflow or outflow from investing activity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 26

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3574-108585

+ Details

Name: us-gaap_NetCashProvidedByUsedInInvestingActivities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Details

Name: us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 25

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3536-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_NetCashProvidedByUsedInOperatingActivities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.22)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.18)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e565-108580

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A7

-Appendix A

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 10, 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Other Comprehensive Income

-URI http://asc.fasb.org/extlink&oid=6519514

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 87-21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Net Income

-URI http://asc.fasb.org/extlink&oid=6518256

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.19)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 19

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28, 29, 30

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 20

-Article 9

+ Details

Name: us-gaap_NetIncomeLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The cash outflow from the entity's earnings to the shareholders.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 15

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3291-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 18

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 20

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Financing Activities

-URI http://asc.fasb.org/extlink&oid=6513228

+ Details

Name: us-gaap_PaymentsOfDividends

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 13

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3213-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 17

-Subparagraph c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Investing Activities

-URI http://asc.fasb.org/extlink&oid=6516133

+ Details

Name: us-gaap_PaymentsToAcquirePropertyPlantAndEquipment

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The net cash inflow or outflow in aggregate debt due to repayments and proceeds from additional borrowings.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 18

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Financing Activities

-URI http://asc.fasb.org/extlink&oid=6513228

+ Details

Name: us-gaap_ProceedsFromRepaymentsOfDebt

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Financing Activities

-URI http://asc.fasb.org/extlink&oid=6513228

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (j)

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 123R

-Paragraph A240

-Subparagraph i

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 14

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3255-108585

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 18

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 19

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_ProceedsFromStockOptionsExercised

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The cash outflow for the obligation for a lease meeting the criteria for capitalization (with maturities exceeding one year or beyond the operating cycle of the entity, if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 26, 31

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 15

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3291-108585

+ Details

Name: us-gaap_RepaymentsOfLongTermCapitalLeaseObligations

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_ShareBasedCompensation

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

XML 18 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.1.0.1 * */ var moreDialog = null; var Show = { Default:'raw', more:function( obj ){ var bClosed = false; if( moreDialog != null ) { try { bClosed = moreDialog.closed; } catch(e) { //Per article at http://support.microsoft.com/kb/244375 there is a problem with the WebBrowser control // that somtimes causes it to throw when checking the closed property on a child window that has been //closed. So if the exception occurs we assume the window is closed and move on from there. bClosed = true; } if( !bClosed ){ moreDialog.close(); } } obj = obj.parentNode.getElementsByTagName( 'pre' )[0]; var hasHtmlTag = false; var objHtml = ''; var raw = ''; //Check for raw HTML var nodes = obj.getElementsByTagName( '*' ); if( nodes.length ){ objHtml = obj.innerHTML; }else{ if( obj.innerText ){ raw = obj.innerText; }else{ raw = obj.textContent; } var matches = raw.match( /<\/?[a-zA-Z]{1}\w*[^>]*>/g ); if( matches && matches.length ){ objHtml = raw; //If there is an html node it will be 1st or 2nd, // but we can check a little further. var n = Math.min( 5, matches.length ); for( var i = 0; i < n; i++ ){ var el = matches[ i ].toString().toLowerCase(); if( el.indexOf( '= 0 ){ hasHtmlTag = true; break; } } } } if( objHtml.length ){ var html = ''; if( hasHtmlTag ){ html = objHtml; }else{ html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ objHtml + "\n"+''+ "\n"+''; } moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write( html ); moreDialog.document.close(); if( !hasHtmlTag ){ moreDialog.document.body.style.margin = '0.5em'; } } else { //default view logic var lines = raw.split( "\n" ); var longest = 0; if( lines.length > 0 ){ for( var p = 0; p < lines.length; p++ ){ longest = Math.max( longest, lines[p].length ); } } //Decide on the default view this.Default = longest < 120 ? 'raw' : 'formatted'; //Build formatted view var text = raw.split( "\n\n" ) >= raw.split( "\r\n\r\n" ) ? raw.split( "\n\n" ) : raw.split( "\r\n\r\n" ) ; var formatted = ''; if( text.length > 0 ){ if( text.length == 1 ){ text = raw.split( "\n" ) >= raw.split( "\r\n" ) ? raw.split( "\n" ) : raw.split( "\r\n" ) ; formatted = "
"+ text.join( "

\n" ) +"
"; }else{ for( var p = 0; p < text.length; p++ ){ formatted += "
" + text[p] + "
\n"; } } }else{ formatted = '
' + raw + '
'; } html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+'
'+ "\n"+' formatted: '+ ( this.Default == 'raw' ? 'as Filed' : 'with Text Wrapped' ) +''+ "\n"+'
'+ "\n"+'
'+formatted+'
'+ "\n"+'
'+ "\n"+'
'+raw+'
'+ "\n"+'
'+ "\n"+''+ "\n"+''; moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write(html); moreDialog.document.close(); this.toggle( moreDialog ); } moreDialog.document.title = 'Report Preview Details'; }, toggle:function( win, domLink ){ var domId = this.Default; var doc = win.document; var domEl = doc.getElementById( domId ); domEl.style.display = 'block'; this.Default = domId == 'raw' ? 'formatted' : 'raw'; if( domLink ){ domLink.innerHTML = this.Default == 'raw' ? 'with Text Wrapped' : 'as Filed'; } var domElOpposite = doc.getElementById( this.Default ); domElOpposite.style.display = 'none'; }, LastAR : null, showAR : function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }, toggleNext : function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }, hideAR : function(){ Show.LastAR.style.display = 'none'; } } XML 19 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6

BASIS OF PRESENTATION AND SUMMARY ACCOUNTING POLICIES
3 Months Ended

Mar. 31, 2012

BASIS OF PRESENTATION AND SUMMARY ACCOUNTING POLICIES

NOTE A — BASIS OF PRESENTATION AND SUMMARY ACCOUNTING POLICIES

Organization and business

Lifetime Brands, Inc. (the “Company”) designs, sources and sells branded kitchenware, tabletop and other products used in the home and markets its products under a number of brand names and trademarks, which are either owned or licensed. The Company markets and sells its products principally on a wholesale basis to retailers. The Company also markets and sells a limited selection of its products directly to the consumer through its Pfaltzgraff^®, Mikasa^®, Lifetime Sterling™ and Housewares Deals™ Internet websites.

Basis of presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. 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 U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments, consisting only of normal recurring accruals, considered necessary for a fair presentation have been included. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011. Operating results for the three month period ended March 31, 2012 are not necessarily indicative of the results that may be expected for the year ending December 31, 2012.

The Company’s business and working capital needs are highly seasonal, with a majority of sales occurring in the third and fourth quarters. In 2011 and 2010, net sales for the third and fourth quarters accounted for 59% and 60% of total annual net sales, respectively. In anticipation of the pre-holiday shipping season, inventory levels increase primarily in the June through October time period.

Revenue recognition

The Company sells products wholesale, to retailers and distributors, and retail, directly to the consumer. Wholesale sales and retail sales are recognized when title passes to the customer, which is primarily at the shipping point for wholesale sales and upon delivery to the customer for retail sales. Shipping and handling fees that are billed to customers in sales transactions are included in net sales and amounted to $353,000 and $455,000 for the three months ended March 31, 2012 and 2011, respectively. Net sales exclude taxes that are collected from customers and remitted to the taxing authorities.

The Company offers various sales incentives and promotional programs to its customers from time to time in the normal course of business. These incentives and promotions typically include arrangements such as cooperative advertising, buydowns, volume rebates and discounts. These arrangements and an estimate of sales returns are reflected as reductions in net sales in the Company’s condensed consolidated statements of operations.

Cost of sales

Cost of sales consist primarily of costs associated with the production and procurement of product, inbound freight costs, purchasing costs, royalties and other product procurement related charges.

Distribution expenses

Distribution expenses consist primarily of warehousing expenses, handling costs of products sold and freight-out expenses.

Inventory

Inventory consists principally of finished goods sourced from third-party suppliers. Inventory also includes finished goods, work in process and raw materials related to the Company’s manufacture of sterling silver products. Inventory is priced by the lower of cost (first-in, first-out basis) or market method. The Company estimates the selling price of its inventory on a product by product basis based on the current selling environment. If the estimated selling price is lower than the inventory’s cost, the Company reduces the value of the inventory to its net realizable value.

The components of inventory are as follows:

 March 31,
2012 December 31,
2011

 (in thousands)

Finished goods
 $ 109,376 $ 107,471

Work in process
 2,325 1,683

Raw materials
 1,952 1,183





Total
 $ 113,653 $ 110,337





Fair value of financial instruments

The Company determined the carrying amounts of cash and cash equivalents, accounts receivable and accounts payable are reasonable estimates of their fair values because of their short-term nature. The Company determined that the carrying amounts of borrowings outstanding under its revolving credit facility and term loan approximate fair value since such borrowings bear interest at variable market rates.

Employee Healthcare

In 2011, the Company commenced self insurance of certain portions of its health insurance plan. The Company maintains an estimated accrual for unpaid claims and claims incurred but not yet reported (“IBNR”). Although management believes that it uses the best information available to estimate IBNR, actual claims may vary significantly from estimated claims.

Adoption of New Accounting Pronouncements

Effective January 1, 2012, the Company adopted Accounting Standard Update (“ASU”) No. 2011-05, Presentation of Comprehensive Income. Under this guidance, an entity has the option to present the total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements in its annual financial statements. In connection with the adoption of this standard, our condensed financial statements include a separate statement of comprehensive income.

Effective January 1, 2012, the Company adopted ASU No. 2011-08, Intangibles—Goodwill and Other (Topic 350): Testing for Goodwill Impairment, which permits an entity to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test described in ASC Topic No. 350, Intangibles – Goodwill and Other. The adoption of this standard did not have a significant impact on our condensed consolidated financial statements.

X

- Definition

The entire disclosure for the basis of presentation, or accounting, and significant accounting policies.

+ References

No definition available.

+ Details

Name: us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 20 R3.htm IDEA: XBRL DOCUMENT v2.4.0.6

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)
In Thousands, except Share data, unless otherwise specified

Mar. 31, 2012

Dec. 31, 2011

Accounts receivable, allowances $ 5,051 $ 4,602

Preferred stock, par value $ 0.01 $ 0.01

Common stock, par value $ 0.01 $ 0.01

Common stock, shares authorized 25,000,000 25,000,000

Common stock, shares issued 12,438,393 12,430,893

Common stock, shares outstanding 12,438,393 12,430,893

Preferred stock Series A

Preferred stock, shares authorized 100 100

Preferred stock, issued

Preferred stock, outstanding

Preferred stock Series B

Preferred stock, shares authorized 2,000,000 2,000,000

Preferred stock, issued

Preferred stock, outstanding

X

- Definition

A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 4

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6965416&loc=d3e5074-111524

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.4)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Face amount or stated value of common stock per share; generally not indicative of the fair market value per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 30

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_CommonStockParOrStatedValuePerShare

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: instant

X

- Definition

The maximum number of common shares permitted to be issued by an entity's charter and bylaws.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 30

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_CommonStockSharesAuthorized

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition

Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 30

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_CommonStockSharesIssued

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition

Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Shares outstanding equals shares issued minus shares held in treasury and other adjustments, if any.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 30

-Article 5

+ Details

Name: us-gaap_CommonStockSharesOutstanding

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition

Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.28)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 02

-Paragraph 29

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 2, 3, 4, 5, 6, 7, 8

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_PreferredStockParOrStatedValuePerShare

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: instant

X

- Definition

The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 02

-Paragraph 29

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 2, 3, 4, 5, 6, 7, 8

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.28)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_PreferredStockSharesAuthorized

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition

Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 02

-Paragraph 29

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.28)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_PreferredStockSharesIssued

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition

Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 02

-Paragraph 29

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.28)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_PreferredStockSharesOutstanding

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

XML 21 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6

Document and Entity Information
3 Months Ended

Mar. 31, 2012

May 04, 2012

Document Type 10-Q

Amendment Flag false

Document Period End Date Mar. 31, 2012

Document Fiscal Year Focus 2012

Document Fiscal Period Focus Q1

Trading Symbol LCUT

Entity Registrant Name LIFETIME BRANDS, INC

Entity Central Index Key 0000874396

Current Fiscal Year End Date --12-31

Entity Filer Category Accelerated Filer

Entity Common Stock, Shares Outstanding 12,438,393

X

- Definition

If the value is true, then the document as an amendment to previously-filed/accepted document.

+ References

No definition available.

+ Details

Name: dei_AmendmentFlag

Namespace Prefix: dei_

Data Type: xbrli:booleanItemType

Balance Type: na

Period Type: duration

X

- Definition

End date of current fiscal year in the format --MM-DD.

+ References

No definition available.

+ Details

Name: dei_CurrentFiscalYearEndDate

Namespace Prefix: dei_

Data Type: xbrli:gMonthDayItemType

Balance Type: na

Period Type: duration

X

- Definition

This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.

+ References

No definition available.

+ Details

Name: dei_DocumentFiscalPeriodFocus

Namespace Prefix: dei_

Data Type: dei:fiscalPeriodItemType

Balance Type: na

Period Type: duration

X

- Definition

This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.

+ References

No definition available.

+ Details

Name: dei_DocumentFiscalYearFocus

Namespace Prefix: dei_

Data Type: xbrli:gYearItemType

Balance Type: na

Period Type: duration

X

- Definition

The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.

+ References

No definition available.

+ Details

Name: dei_DocumentPeriodEndDate

Namespace Prefix: dei_

Data Type: xbrli:dateItemType

Balance Type: na

Period Type: duration

X

- Definition

The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type is limited to the same value as the supporting SEC submission type, minus any "/A" suffix. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, 497, NCSR, N-CSR, N-CSRS, N-Q, 10-KT, 10-QT, 20-FT, POS AM and Other.

+ References

No definition available.

+ Details

Name: dei_DocumentType

Namespace Prefix: dei_

Data Type: dei:submissionTypeItemType

Balance Type: na

Period Type: duration

X

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation 12B

-Number 240

-Section 12b

-Subsection 1

+ Details

Name: dei_EntityCentralIndexKey

Namespace Prefix: dei_

Data Type: dei:centralIndexKeyItemType

Balance Type: na

Period Type: duration

X

- Definition

Indicate number of shares outstanding of each of registrant's classes of common stock, as of latest practicable date. Where multiple classes exist define each class by adding class of stock items such as Common Class A [Member], Common Class B [Member] onto the Instrument [Domain] of the Entity Listings, Instrument

+ References

No definition available.

+ Details

Name: dei_EntityCommonStockSharesOutstanding

Namespace Prefix: dei_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition

Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, or (4) Smaller Reporting Company. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.

+ References

No definition available.

+ Details

Name: dei_EntityFilerCategory

Namespace Prefix: dei_

Data Type: dei:filerCategoryItemType

Balance Type: na

Period Type: duration

X

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation 12B

-Number 240

-Section 12b

-Subsection 1

+ Details

Name: dei_EntityRegistrantName

Namespace Prefix: dei_

Data Type: xbrli:normalizedStringItemType

Balance Type: na

Period Type: duration

X

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name: dei_TradingSymbol

Namespace Prefix: dei_

Data Type: xbrli:normalizedStringItemType

Balance Type: na

Period Type: duration

XML 22 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Net sales $ 109,041 $ 91,773

Cost of sales 68,581 58,383

Gross margin 40,460 33,390

Distribution expenses 11,744 10,940

Selling, general and administrative expenses 25,484 22,473

Income (loss) from operations 3,232 (23)

Interest expense (Note D) (1,698) (1,979)

Income (loss) before income taxes and equity in earnings 1,534 (2,002)

Income tax (provision) benefit (Note G) (588) 588

Equity in earnings, net of taxes (Note B) 398 465

NET INCOME (LOSS) $ 1,344 $ (949)

BASIC INCOME (LOSS) PER COMMON SHARE (NOTE F) $ 0.11 $ (0.08)

DILUTED INCOME (LOSS) PER COMMON SHARE (NOTE F) $ 0.11 $ (0.08)

Cash dividends declared per common stock $ 0.050 $ 0.025

X

- Definition

Aggregate dividends declared during the period for each share of common stock outstanding.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

+ Details

Name: us-gaap_CommonStockDividendsPerShareDeclared

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: duration

X

- Definition

The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 2

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.2(a),(d))

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_CostOfGoodsAndServicesSold

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 55

-Paragraph 52

-URI http://asc.fasb.org/extlink&oid=6945512&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 07-4

-Paragraph 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 20

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.19)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 7

-Paragraph 18

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.9-04.23)

-URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 36, 37, 38

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.21)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 21

-Article 9

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1252-109256

+ Details

Name: us-gaap_EarningsPerShareBasic

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: duration

X

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 11, 12, 36

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.21)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 20

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 7

-Paragraph 18

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 21

-Article 9

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 07-4

-Paragraph 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_EarningsPerShareDiluted

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: duration

X

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.1,2)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_GrossProfit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 4

-Section 08

-Paragraph h

-Subparagraph 1(i)

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(h)(1)(i))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

+ Details

Name: us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 323

-SubTopic 10

-Section 45

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6382870&loc=d3e33749-111570

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 18

-Paragraph 19

-Subparagraph c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 18

-Paragraph 6

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 11

-Article 7

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 9

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.12)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_IncomeLossFromEquityMethodInvestments

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Income Tax Expense (or Benefit)

-URI http://asc.fasb.org/extlink&oid=6515339

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-Subparagraph (a),(b)

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph h

-Article 4

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 45

-Subparagraph a, b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(h))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

+ Details

Name: us-gaap_IncomeTaxExpenseBenefit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The cost of borrowed funds accounted for as interest that was charged against earnings during the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.9-04.9)

-URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 34

-Paragraph 21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 9

-Article 9

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher OTS

-Name Federal Regulation (FR)

-Number Title 12

-Chapter V

-Section 563c.102

-Paragraph 9

-Subsection II

-LegacyDoc This is a non-GAAP reference that was included in the 2009 taxonomy. It will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_InterestExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.22)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.18)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e565-108580

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A7

-Appendix A

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 10, 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Other Comprehensive Income

-URI http://asc.fasb.org/extlink&oid=6519514

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 87-21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Net Income

-URI http://asc.fasb.org/extlink&oid=6518256

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.19)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 19

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28, 29, 30

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 20

-Article 9

+ Details

Name: us-gaap_NetIncomeLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The net result for the period of deducting operating expenses from operating revenues.

+ References

No definition available.

+ Details

Name: us-gaap_OperatingIncomeLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 1

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.1)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_SalesRevenueNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 43

-Chapter 4

-Paragraph 5A

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 4

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.4)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 330

-SubTopic 10

-Section 30

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6386349&loc=d3e3636-108311

+ Details

Name: us-gaap_SellingGeneralAndAdministrativeExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Cost incurred during the reporting period in transporting goods and services to customers. Includes freight-out costs.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 605

-SubTopic 45

-Section S99

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6408413&loc=d3e221937-122793

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 00-10

-Paragraph 6

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Shipping Costs

-URI http://asc.fasb.org/extlink&oid=6525344

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 22

-Paragraph 8

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 605

-SubTopic 45

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6408196&loc=d3e61069-111654

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 605

-SubTopic 45

-Section 45

-Paragraph 20

-URI http://asc.fasb.org/extlink&oid=6743974&loc=d3e60635-111653

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18726-107790

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Handling Costs

-URI http://asc.fasb.org/extlink&oid=6514758

+ Details

Name: us-gaap_ShippingHandlingAndTransportationCosts

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

XML 23 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6

INCOME (LOSS) PER COMMON SHARE
3 Months Ended

Mar. 31, 2012

INCOME (LOSS) PER COMMON SHARE

NOTE F — INCOME (LOSS) PER COMMON SHARE

Basic income per common share has been computed by dividing net income by the weighted-average number of shares of the Company’s common stock outstanding. Diluted income per common share adjusts net income and basic income per common share for the effect of all potentially dilutive shares of the Company’s common stock. The calculations of basic and diluted income per common share for the three month periods ended March 31, 2012 and 2011 are as follows:

 Three Months Ended
March 31,

 2012 2011

 (in thousands, except per share amounts)

Net income (loss) – basic and diluted
 $ 1,344 $ (949 )

Weighted-average shares outstanding – basic
 12,432 12,066

Effect of dilutive securities:


Stock options
 333 —





Weighted-average shares outstanding – diluted
 12,765 12,066





Basic income (loss) per common share
 $ 0.11 $ (0.08 )





Diluted income (loss) per common share
 $ 0.11 $ (0.08 )





The computation of diluted income per common share for the three months ended March 31, 2012 and 2011 excludes options to purchase 1,188,800 shares and 2,366,000 shares, respectively. These shares were excluded due to their antidilutive effects.

X

- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1252-109256

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 55

-Paragraph 52

-URI http://asc.fasb.org/extlink&oid=6945512&loc=d3e4984-109258

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 40

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1278-109256

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.21)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_EarningsPerShareTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 24 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6

STOCK COMPENSATION
3 Months Ended

Mar. 31, 2012

STOCK COMPENSATION

NOTE E — STOCK COMPENSATION

A summary of the Company’s stock option activity and related information for the three months ended March 31, 2012 is as follows:

 Options Weighted-
average
exercise price Weighted-
average
remaining
contractual
life (years) Aggregate
intrinsic
value

Options outstanding, January 1, 2012
 2,475,750 $ 12.62

Grants
 — —

Exercises
 (7,500 ) 2.99

Cancellations
 (200 ) 22.46





Options outstanding, March 31, 2012
 2,468,050 12.65 6.29 $ 6,170,028





Options exercisable, March 31, 2012
 1,398,050 14.03 5.13 $ 4,089,333





The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value that would have been received by the option holders had all option holders exercised their stock options on March 31, 2012. The intrinsic value is calculated for each in-the-money stock option as the difference between the closing price of the Company’s common stock on March 30, 2012 and the exercise price.

The total intrinsic value of stock options exercised for the three months ended March 31, 2012 and 2011 was $56,889 and $16,990, respectively. The intrinsic value of a stock option that is exercised is calculated at the date of exercise.

The Company recognized stock compensation expense of $698,000 and $748,000 for the three months ended March 31, 2012 and 2011, respectively.

Total unrecognized compensation cost related to unvested stock options at March 31, 2012, before the effect of income taxes, was $3.8 million and is expected to be recognized over a weighted-average period of 1.27 years.

At March 31, 2012, there were 332,676 shares available for awards that could be granted under the Company’s 2000 Long-Term Incentive Plan, as amended. On May 1, 2012, the Company granted stock options to purchase a total of 303,000 shares of common stock with an exercise price of $11.64 per share. The aggregate grant date unrecognized compensation cost of $2.0 million for these options will be recognized over their vesting period of 4 years.

X

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Statement of Position (SOP)

-Number 93-6

-Paragraph 53

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 14

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 123R

-Paragraph 64, 65, A240

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 40

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 50

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

+ Details

Name: us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 25 R15.htm IDEA: XBRL DOCUMENT v2.4.0.6

CONTINGENCIES
3 Months Ended

Mar. 31, 2012

CONTINGENCIES

NOTE I — CONTINGENCIES

Wallace Silversmiths de Puerto Rico, Ltd. (“Wallace de Puerto Rico”), a wholly-owned subsidiary of the Company, operates a manufacturing facility in San Germán, Puerto Rico, that is leased from the Puerto Rico Industrial Development Company (“PRIDCO”). In March 2008, the United States Environmental Protection Agency (the “EPA”) announced that the San Germán Ground Water Contamination site in Puerto Rico (the “Site”) had been added to the Superfund National Priorities List due to contamination present in the local drinking water supply.

In May 2008, Wallace de Puerto Rico received from the EPA a Notice of Potential Liability and Request for Information Pursuant to 42 U.S.C. Sections 9607(a) and 9604(e) of the Comprehensive Environmental Response, Compensation, Liability Act. The Company responded to the EPA’s Request for Information on behalf of Wallace de Puerto Rico. In July 2011, Wallace de Puerto Rico received a letter from the EPA requesting access to the property that it leases from PRIDCO and the Company granted such access.

The Company is not aware of any determination by the EPA that any remedial action is warranted for the Site; and, accordingly, is not able to estimate the extent of any possible liability.

The Company is, from time to time, involved in other legal proceedings. The Company believes that other current litigation is routine in nature and incidental to the conduct of the Company’s business, and that none of this litigation, individually or collectively, would have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.

X

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 450

-SubTopic 20

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 14

-Paragraph 3

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 440

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 5

-Paragraph 9, 10, 11, 12

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.25)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

+ Details

Name: us-gaap_CommitmentsAndContingenciesDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 26 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6

INCOME TAXES
3 Months Ended

Mar. 31, 2012

INCOME TAXES

NOTE G – INCOME TAXES

As of December 31, 2010, the Company had fully utilized the Federal net operating loss and other credit carryforwards generated in previous years. The Company has generated various state net operating loss carryforwards of $22.0 million that will begin to expire in 2014. The Company has net operating losses in foreign jurisdictions of $2.5 million that will begin to expire in 2016. As of December 31, 2011, management had determined that it was “more likely than not” that its deferred tax assets would be realized and the corresponding valuation allowances were released based on the Company’s ability to utilize deferred tax assets currently and the expected future use of temporary differences in the carryback period. The valuation allowance which remains at March 31, 2012 relates to certain state net operating losses and foreign currency translation adjustments.

The estimated value of the Company’s tax positions at March 31, 2012 is a gross liability of $134,000. If the Company’s tax positions are sustained by the taxing authorities in favor of the Company, the Company’s net liability would be reduced by $134,000, all of which would impact the Company’s tax provision. On a quarterly basis, the Company evaluates its tax positions and revises its estimates accordingly. The Company believes that $134,000 of its tax positions will be resolved within the next twelve months.

The Company has identified the following jurisdictions as “major” tax jurisdictions: U.S. Federal, California, Massachusetts, New Jersey, New York and Pennsylvania. The Company is no longer subject to U.S. Federal income tax examinations for the years prior to 2009. The periods subject to examination for the Company’s major state jurisdictions are the years ended 2007 through 2011.

The Company’s policy for recording interest and penalties is to record such items as a component of income taxes. Interest and penalties were not material to the Company’s financial position, results of operations or cash flows as of and for the three months ended March 31, 2012 and 2011.

X

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 136, 172

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 43, 44, 45, 46, 47, 48, 49

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph h

-Article 4

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 15

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(h))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

+ Details

Name: us-gaap_IncomeTaxDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 27 R14.htm IDEA: XBRL DOCUMENT v2.4.0.6

BUSINESS SEGMENTS
3 Months Ended

Mar. 31, 2012

BUSINESS SEGMENTS

NOTE H – BUSINESS SEGMENTS

The Company operates in two reportable business segments; the Wholesale segment, the Company’s primary business, in which the Company designs, markets and distributes products to retailers and distributors, and the Retail Direct segment, in which the Company markets and sells a limited selection of its products directly to consumers through its Pfaltzgraff^®, Mikasa^®, Housewares Deals™ and Lifetime Sterling™ Internet websites.

The Company has segmented its operations to reflect the manner in which management reviews and evaluates the results of its operations. Management evaluates the performance of the Wholesale and Retail Direct segments based on net sales and income (loss) from operations. Such measures give recognition to specifically identifiable operating costs such as cost of sales, distribution expenses and selling, general and administrative expenses. Certain general and administrative expenses, such as senior executive salaries and benefits, stock compensation, director fees and accounting, legal and consulting fees, are not allocated to the specific segments and are reflected as unallocated corporate expenses.

 Three Months Ended
March 31,

 2012 2011

 (in thousands)

Net sales


Wholesale
 $ 103,340 $ 84,903

Retail Direct
 5,701 6,870



Total net sales
 $ 109,041 $ 91,773



Income (loss) from operations


Wholesale
 $ 6,160 $ 2,914

Retail Direct
 (8 ) (104 )

Unallocated corporate expenses
 (2,920 ) (2,833 )



Total income (loss) from operations
 $ 3,232 $ (23 )



Depreciation and amortization


Wholesale
 $ (2,150 ) $ (1,975 )

Retail Direct
 (57 ) (20 )



Total depreciation and amortization
 $ (2,207 ) $ (1,995 )



X

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 10

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 33

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 34

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 29

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 35

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 41

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 32

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 131

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 30

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 26

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 40

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 42

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 31

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

+ Details

Name: us-gaap_SegmentReportingDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 28 R16.htm IDEA: XBRL DOCUMENT v2.4.0.6

OTHER
3 Months Ended

Mar. 31, 2012

OTHER

NOTE J — OTHER

Cash dividends

On January 11, 2012, the Board of Directors declared a quarterly dividend of $0.025 payable on February 15, 2012 to shareholders of record on February 1, 2012. On March 6, 2012, the Board of Directors declared a quarterly dividend of $0.025 per share payable on May 15, 2012 to shareholders of record on May 1, 2012. As of March 31, 2012, the Company had accrued $311,000 for the payment of the dividend.

Supplemental cash flow information

 Three Months Ended
March 31,

 2012 2011

 (in thousands)

Supplemental disclosure of cash flow information:


Cash paid for interest
 $ 1,476 $ 1,233

Cash paid for taxes
 1,760 4,526

Non-cash investing activities:


Translation adjustment
 $ (2,081 ) $ (1,225 )

X

- Definition

The entire disclosure related to all or some of the information related to dividends declared, but not paid, as of the financial reporting date, tabular disclosure of supplemental cash flow information for the periods presented and tabular disclosure of the components of accumulated other comprehensive income (loss)." This definition is derived from existing taxonomies and modified to apply to this disclosure.

+ References

No definition available.

+ Details

Name: lcut_OtherItemsDisclosureTextBlock

Namespace Prefix: lcut_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 29 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)
In Thousands, unless otherwise specified
3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Net income (loss) $ 1,344 $ (949)

Translation adjustment 2,081 1,225

Comprehensive income $ 3,425 $ 276

X

- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e540-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 30

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A5

-Appendix A

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(3)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 8, 9, 10, 11, 12, 13, 14

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Comprehensive Income

-URI http://asc.fasb.org/extlink&oid=6508144

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Net Income

-URI http://asc.fasb.org/extlink&oid=6518256

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e557-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Other Comprehensive Income

-URI http://asc.fasb.org/extlink&oid=6519514

+ Details

Name: us-gaap_ComprehensiveIncomeNetOfTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.22)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.18)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e565-108580

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A7

-Appendix A

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 10, 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Other Comprehensive Income

-URI http://asc.fasb.org/extlink&oid=6519514

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 87-21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Net Income

-URI http://asc.fasb.org/extlink&oid=6518256

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.19)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 19

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28, 29, 30

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 20

-Article 9

+ Details

Name: us-gaap_NetIncomeLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency of the reporting entity, net of tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 830

-SubTopic 30

-Section 45

-Paragraph 20

-Subparagraph (b),(c)

-URI http://asc.fasb.org/extlink&oid=6915805&loc=d3e32211-110900

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 55

-Paragraph 2

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6920433&loc=d3e998-108581

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 24

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(3)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 14, 17, 19, 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 52

-Paragraph 13, 20, 31

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: na

Period Type: duration

XML 30 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6

DEBT
3 Months Ended

Mar. 31, 2012

DEBT

NOTE D — DEBT

Revolving Credit Facility

The Company has a $150.0 million secured credit agreement (the “Revolving Credit Facility”), maturing on October 28, 2016, with a bank group led by JPMorgan Chase Bank, N.A.

Borrowings under the Revolving Credit Facility bear interest, at the Company’s option, at one of the following rates: (i) the Alternate Base Rate, defined as the greater of the Prime Rate, Federal Funds Rate plus 0.5% or the Adjusted LIBOR rate plus 1.0%, plus a margin of 1.0% to 1.75%, or (ii) the Eurodollar Rate, defined as the Adjusted LIBOR Rate plus a margin of 2.0% to 2.75%. The respective margins are based upon availability. Interest rates on outstanding borrowings at March 31, 2012 ranged from 2.75% to 4.75%. In addition, the Company pays a commitment fee of 0.375% to 0.50% on the unused portion of the Revolving Credit Facility.

At March 31, 2012, the Company had $1.2 million of open letters or credit and $56.5 million of borrowings outstanding under the Revolving Credit Facility. Availability under the Revolving Credit Facility was approximately $72.1 million, or 48%, of the total loan commitment at March 31, 2012.

Pursuant to the provisions of ASC Topic No. 470-10, Short-term Obligations Expected to be Refinanced, at March 31, 2012 and December 31, 2011, the Company classified a portion of the Revolving Credit Facility as a current liability based on the Company’s intent and ability to repay the loan from cash flows from operations which are expected to occur within the year. Repayments and borrowings under the facility can vary significantly from planned levels based on cash flow needs and general economic conditions. The Company expects that it will continue to borrow and repay funds, subject to availability, under the facility based on working capital needs.

Term Loan

The Company has a $40.0 million second lien credit agreement (the “Term Loan”), which matures on June 8, 2015, with Citibank, N.A.

The Term Loan bears interest, at the Company’s option, at one of the following rates: (i) the Alternate Base Rate, defined as the greater of the corporate rate published by the lender and the Federal Funds Rate plus 0.50% provided that such calculated rate is a minimum of 2.50%, plus a margin of 7.50%, or (ii) the Adjusted LIBOR rate which shall be a minimum of 1.50%, plus a margin of 8.50%. The interest rate on the outstanding borrowings at March 31, 2012 was 10.0%.

The Term Loan requires the Company to have EBITDA, as defined, of not less than $31.0 million for the trailing four fiscal quarters through March 31, 2012 and limits capital expenditures to $8.0 million for 2012. The Company was in compliance with the financial covenants of the Term Loan and Revolving Credit Facility at March 31, 2012.

X

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19,20,22)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 2, 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 19, 20, 22

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

+ Details

Name: us-gaap_DebtDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 31 FilingSummary.xml IDEA: XBRL DOCUMENT 2.4.0.6 Html 11 97 1 false 2 0 false 3 false false R1.htm 101 - Document - Document and Entity Information Sheet http://www.lifetimebrands.com/taxonomy/role/DocumentDocumentandEntityInformation Document and Entity Information true false R2.htm 103 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS Sheet http://www.lifetimebrands.com/taxonomy/role/StatementOfFinancialPositionClassified CONDENSED CONSOLIDATED BALANCE SHEETS false false R3.htm 104 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) Sheet http://www.lifetimebrands.com/taxonomy/role/StatementOfFinancialPositionClassifiedParenthetical CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) false false R4.htm 105 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Sheet http://www.lifetimebrands.com/taxonomy/role/StatementOfIncome CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS false false R5.htm 106 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Sheet http://www.lifetimebrands.com/taxonomy/role/StatementOfOtherComprehensiveIncome CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME false false R6.htm 107 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Sheet http://www.lifetimebrands.com/taxonomy/role/StatementOfCashFlowsIndirect CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS false false R7.htm 108 - Disclosure - BASIS OF PRESENTATION AND SUMMARY ACCOUNTING POLICIES Sheet http://www.lifetimebrands.com/taxonomy/role/NotesToFinancialStatementsBasisOfPresentationAndSignificantAccountingPoliciesTextBlock BASIS OF PRESENTATION AND SUMMARY ACCOUNTING POLICIES false false R8.htm 109 - Disclosure - INVESTMENTS Sheet http://www.lifetimebrands.com/taxonomy/role/NotesToFinancialStatementsEquityMethodInvestmentsDisclosureTextBlock INVESTMENTS false false R9.htm 110 - Disclosure - INTANGIBLE ASSETS Sheet http://www.lifetimebrands.com/taxonomy/role/NotesToFinancialStatementsIntangibleAssetsDisclosureTextBlock INTANGIBLE ASSETS false false R10.htm 111 - Disclosure - DEBT Sheet http://www.lifetimebrands.com/taxonomy/role/NotesToFinancialStatementsDebtDisclosureTextBlock DEBT false false R11.htm 112 - Disclosure - STOCK COMPENSATION Sheet http://www.lifetimebrands.com/taxonomy/role/NotesToFinancialStatementsDisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock STOCK COMPENSATION false false R12.htm 113 - Disclosure - INCOME (LOSS) PER COMMON SHARE Sheet http://www.lifetimebrands.com/taxonomy/role/NotesToFinancialStatementsEarningsPerShareTextBlock INCOME (LOSS) PER COMMON SHARE false false R13.htm 114 - Disclosure - INCOME TAXES Sheet http://www.lifetimebrands.com/taxonomy/role/NotesToFinancialStatementsIncomeTaxDisclosureTextBlock INCOME TAXES false false R14.htm 115 - Disclosure - BUSINESS SEGMENTS Sheet http://www.lifetimebrands.com/taxonomy/role/NotesToFinancialStatementsSegmentReportingDisclosureTextBlock BUSINESS SEGMENTS false false R15.htm 116 - Disclosure - CONTINGENCIES Sheet http://www.lifetimebrands.com/taxonomy/role/NotesToFinancialStatementsCommitmentsAndContingenciesDisclosureTextBlock CONTINGENCIES false false R16.htm 117 - Disclosure - OTHER Sheet http://www.lifetimebrands.com/taxonomy/role/NotesToFinancialStatementsOtherItemsDisclosureTextBlock OTHER false false All Reports Book All Reports Process Flow-Through: 103 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS Process Flow-Through: Removing column 'Mar. 31, 2011' Process Flow-Through: Removing column 'Dec. 31, 2010' Process Flow-Through: 104 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) Process Flow-Through: 105 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Process Flow-Through: 106 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Process Flow-Through: 107 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS lcut-20120331.xml lcut-20120331.xsd lcut-20120331_cal.xml lcut-20120331_def.xml lcut-20120331_lab.xml lcut-20120331_pre.xml true true

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Mar. 31, 2012	Dec. 31, 2011
CURRENT ASSETS
Cash and cash equivalents	$ 4,867	$ 2,972
Accounts receivable, less allowances of $5,051 at March 31, 2012 and $4,602 at December 31, 2011	72,902	77,749
Inventory (Note A)	113,653	110,337
Prepaid expenses and other current assets	5,286	5,264
Income taxes receivable (Note G)	327
Deferred income taxes (Note G)	2,568	2,475
TOTAL CURRENT ASSETS	199,603	198,797
PROPERTY AND EQUIPMENT, net	33,025	34,324
INVESTMENTS (Note B)	36,380	34,515
INTANGIBLE ASSETS, net (Note C)	46,537	46,937
OTHER ASSETS	3,742	4,172
TOTAL ASSETS	319,287	318,745
CURRENT LIABILITIES
Revolving Credit Facility (Note D)	15,000	15,000
Accounts payable	23,534	18,985
Accrued expenses	29,562	33,877
Income taxes payable (Note G)	70	2,100
TOTAL CURRENT LIABILITIES	68,166	69,962
DEFERRED RENT & OTHER LONG-TERM LIABILITIES	14,450	14,598
DEFERRED INCOME TAXES (Note G)	5,427	5,385
REVOLVING CREDIT FACILITY (Note D)	41,545	42,625
TERM LOAN (Note D)	40,000	40,000
STOCKHOLDERS' EQUITY
Preferred stock, $.01 par value, shares authorized: 100 shares of Series A and 2,000,000 shares of Series B; none issued and outstanding
Common stock, $.01 par value, shares authorized: 25,000,000; shares issued and outstanding: 12,438,393 at March 31, 2012 and 12,430,893 at December 31, 2011	124	124
Paid-in capital	138,186	137,467
Retained earnings	15,189	14,465
Accumulated other comprehensive loss	(3,800)	(5,881)
TOTAL STOCKHOLDERS' EQUITY	149,699	146,175
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 319,287	$ 318,745

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
OPERATING ACTIVITIES
Net income (loss)	$ 1,344	$ (949)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Provision for doubtful accounts	(25)	(16)
Depreciation and amortization	2,207	1,995
Amortization of debt discount		229
Deferred rent	(84)	(3)
Stock compensation expense	698	748
Undistributed equity earnings	(398)	(465)
Changes in operating assets and liabilities (excluding the effects of business acquisitions)
Accounts receivable	4,872	11,847
Inventory	(3,316)	(3,969)
Prepaid expenses, other current assets and other assets	410	(52)
Accounts payable, accrued expenses and other liabilities	(55)	(7,242)
Income taxes receivable		(745)
Income taxes payable	(2,356)	(5,036)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	3,297	(3,658)
INVESTING ACTIVITIES
Purchases of property and equipment	(475)	(1,047)
NET CASH USED IN INVESTING ACTIVITIES	(475)	(1,047)
FINANCING ACTIVITIES
Proceeds (repayments) of bank borrowings, net	(1,080)	2,900
Proceeds from the exercise of stock options	22	9
Excess tax benefits from exercise of stock options		6
Payment of capital lease obligations		(27)
Cash dividend paid	(311)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(1,369)	2,888
Effect of foreign exchange on cash	442
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	1,895	(1,817)
Cash and cash equivalents at beginning of year	2,972	3,351
CASH AND CASH EQUIVALENTS AT END OF YEAR	$ 4,867	$ 1,534

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	Mar. 31, 2012	Dec. 31, 2011
Accounts receivable, allowances	$ 5,051	$ 4,602
Preferred stock, par value	$ 0.01	$ 0.01
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	12,438,393	12,430,893
Common stock, shares outstanding	12,438,393	12,430,893
Preferred stock Series A
Preferred stock, shares authorized	100	100
Preferred stock, issued
Preferred stock, outstanding
Preferred stock Series B
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, issued
Preferred stock, outstanding

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2012	May 04, 2012
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q1
Trading Symbol	LCUT
Entity Registrant Name	LIFETIME BRANDS, INC
Entity Central Index Key	0000874396
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		12,438,393