Guarantor Financial Information

The following tables present condensed consolidating balance sheets at December 31, 2016 and December 31, 2015, condensed consolidating statements of income and comprehensive income for the years ended December 31, 2016, 2015 and 2014 and condensed consolidating statements of cash flows for the years ended December 31, 2016, 2015 and 2014 for XL-Bermuda, XL-Cayman, a 100% owned subsidiary of XL-Bermuda, and XL-Bermuda's other subsidiaries (excluding XL-Ireland), which are all 100% directly or indirectly owned subsidiaries of XL-Cayman. For purposes of this disclosure, the 2016 results of XL-Ireland, which is currently in liquidation proceedings and whose assets are otherwise immaterial, have been included within the results of XL-Bermuda. See Note 1, "Significant Accounting Policies" for information regarding changes in the Company's organizational structure as a result of the Redomestication. For a discussion of debt instruments issued by XL-Cayman, a majority of which were fully and unconditionally guaranteed by XL-Ireland prior to the Redomestication, and which are now fully and unconditionally guaranteed by XL-Bermuda subsequent to the Redomestication, see Note 14(a), "Notes Payable and Debt and Financing Arrangements - Notes Payable and Debt."



	December 31, 2016
Condensed Consolidating Balance Sheet (U.S. dollars in thousands, except share data)	XL- Bermuda (1)		XL-Cayman		Other XL-Bermuda Subsidiaries		Consolidating Adjustments and Eliminations			XL-Bermuda Consolidated
ASSETS
Investments:
Total investments available for sale	$	—	$	638,236	$	31,280,890	$	—		$	31,919,126
Total investments trading	—		—		1,626,577		—			1,626,577
Investments in affiliates	—		—		2,177,645		—			2,177,645
Other investments	—		9		1,164,555		—			1,164,564
Total investments	$	—	$	638,245	$	36,249,667	$	—		$	36,887,912
Cash and cash equivalents	1,022		84,286		3,341,680		—			3,426,988
Restricted cash	—		—		153,504		—			153,504
Investments in subsidiaries	10,897,195		14,238,698		—		(25,135,893		)	—
Accrued investment income	55		2,981		281,385		(55		)	284,366
Deferred acquisition costs and value of business acquired	—		—		946,721		—			946,721
Ceded unearned premiums	—		—		1,687,864		—			1,687,864
Premiums receivable	—		—		5,522,976		—			5,522,976
Reinsurance balances receivable	—		—		577,479		—			577,479
Unpaid losses and loss expenses recoverable	—		—		5,491,297		—			5,491,297
Receivable from investments sold	—		—		128,411		—			128,411
Goodwill and other intangible assets	—		—		2,203,653		—			2,203,653
Deferred tax asset	—		—		310,542		—			310,542
Amounts due from subsidiaries/parent	42,780		—		72,962		(115,742		)	—
Other assets	15,188		40,108		757,093		—			812,389
Total assets	$	10,956,240	$	15,004,318	$	57,725,234	$	(25,251,690	)	$	58,434,102

LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities:
Unpaid losses and loss expenses	$	—	$	—	$	25,939,571	$	—		$	25,939,571
Deposit liabilities	—		—		1,116,233		—			1,116,233
Future policy benefit reserves	—		—		3,506,047		—			3,506,047
Funds withheld on GreyCastle life retrocession arrangements	—		—		998,968		—			998,968
Unearned premiums	—		—		7,293,028		—			7,293,028
Notes payable and debt	—		2,647,677		—		—			2,647,677
Reinsurance balances payable	—		—		2,451,717		—			2,451,717
Payable for investments purchased	—		—		226,009		—			226,009
Deferred tax liability	—		—		77,271		—			77,271
Amounts due to subsidiaries/parent	—		72,962		42,780		(115,742		)	—
Other liabilities	17,728		41,984		1,157,190		—			1,216,902
Total liabilities	$	17,728	$	2,762,623	$	42,808,814	$	(115,742	)	$	45,473,423

Shareholders’ Equity:
Shareholders’ equity attributable to XL Group Ltd	$	10,938,512	$	10,897,195	$	14,238,698	$	(25,135,893	)	$	10,938,512
Non-controlling interest in equity of consolidated subsidiaries	—		1,344,500		677,722		(55		)	2,022,167
Total shareholders’ equity	$	10,938,512	$	12,241,695	$	14,916,420	$	(25,135,948	)	$	12,960,679
Total liabilities and shareholders’ equity	$	10,956,240	$	15,004,318	$	57,725,234	$	(25,251,690	)	$	58,434,102

____________


(1)	Results for the period include XL-Ireland, which prior to the Redomestication was the ultimate parent and is now in liquidation proceedings as outlined in Note 1, "Significant Accounting Policies." The Company expects the net assets of XL-Ireland to ultimately be distributed to XL-Bermuda upon completion of the liquidation.



	December 31, 2015
Condensed Consolidating Balance Sheet (U.S. dollars in thousands, except share data)	XL- Ireland		XL-Cayman		Other XL-Ireland Subsidiaries		Consolidating Adjustments and Eliminations			XL-Ireland Consolidated
ASSETS
Investments:
Total investments available for sale	$	—	$	516,425	$	33,237,473	$	—		$	33,753,898
Total investments trading	—		—		1,296,029		—			1,296,029
Investments in affiliates	—		—		1,708,899		—			1,708,899
Other investments	—		877		1,432,180		—			1,433,057
Total investments	$	—	$	517,302	$	37,674,581	$	—		$	38,191,883
Cash and cash equivalents	11,557		369,997		2,874,682		—			3,256,236
Restricted cash	—		—		154,992		—			154,992
Investments in subsidiaries	11,648,673		15,836,651		—		(27,485,324		)	—
Accrued investment income	—		2,323		310,344		—			312,667
Deferred acquisition costs and value of business acquired	—		—		890,568		—			890,568
Ceded unearned premiums	—		—		1,821,793		—			1,821,793
Premiums receivable	—		—		4,712,493		—			4,712,493
Reinsurance balances receivable	—		—		418,666		—			418,666
Unpaid losses and loss expenses recoverable	—		—		5,262,706		—			5,262,706
Receivable from investments sold	—		—		231,158		—			231,158
Goodwill and other intangible assets	—		—		2,210,266		—			2,210,266
Deferred tax asset	—		—		282,311		—			282,311
Amounts due from subsidiaries/parent	33,417		—		1,054,177		(1,087,594		)	—
Other assets	2,748		44,570		889,881		—			937,199
Total assets	$	11,696,395	$	16,770,843	$	58,788,618	$	(28,572,918	)	$	58,682,938

LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities:
Unpaid losses and loss expenses	$	—	$	—	$	25,439,744	$	—		$	25,439,744
Deposit liabilities	—		—		1,168,376		—			1,168,376
Future policy benefit reserves	—		—		4,163,500		—			4,163,500
Funds withheld on GreyCastle life retrocession arrangements	—		—		914,629		—			914,629
Unearned premiums	—		—		7,043,358		—			7,043,358
Notes payable and debt	—		2,644,970		—		—			2,644,970
Reinsurance balances payable	—		—		2,117,727		—			2,117,727
Payable for investments purchased	—		—		130,060		—			130,060
Deferred tax liability	—		—		120,651		—			120,651
Amounts due to subsidiaries/parent	—		1,087,594		—		(1,087,594		)	—
Other liabilities	19,316		45,106		1,221,038		—			1,285,460
Total liabilities	$	19,316	$	3,777,670	$	42,319,083	$	(1,087,594	)	$	45,028,475

Shareholders’ Equity:
Shareholders’ equity attributable to XL Group plc	$	11,677,079	$	11,648,673	$	15,836,651	$	(27,485,324	)	$	11,677,079
Non-controlling interest in equity of consolidated subsidiaries	—		1,344,500		632,884		—			1,977,384
Total shareholders’ equity	$	11,677,079	$	12,993,173	$	16,469,535	$	(27,485,324	)	$	13,654,463
Total liabilities and shareholders’ equity	$	11,696,395	$	16,770,843	$	58,788,618	$	(28,572,918	)	$	58,682,938



	Year Ended December 31, 2016
Condensed Consolidating Statement of Income and Comprehensive Income (U.S. dollars in thousands, except per share data)	XL- Bermuda (1)			XL-Cayman			Other XL-Bermuda Subsidiaries			Consolidating Adjustments and Eliminations			XL-Bermuda Consolidated
Revenues:
Net premiums earned	$	—		$	—		$	9,777,934		$	—		$	9,777,934
Total net investment income	436			9,135			817,998			(436		)	827,133
Total net realized gains (losses) on investments	—			1,918			370,220			—			372,138
Net realized and unrealized gains (losses) on derivative instruments	—			—			2,521			—			2,521
Net realized and unrealized gains (losses) on life retrocession embedded derivative and derivative instruments - Life Funds Withheld Assets	—			—			(540,090		)	—			(540,090		)
Income (loss) from investment fund affiliates	—			—			70,758			—			70,758
Fee income and other	—			—			35,692			—			35,692
Total revenues	$	436		$	11,053		$	10,535,033		$	(436	)	$	10,546,086
Expenses:
Net losses and loss expenses incurred	$	—		$	—		$	6,072,835		$	—		$	6,072,835
Claims and policy benefits	—			—			28,244			—			28,244
Acquisition costs	—			—			1,620,671			—			1,620,671
Operating expenses	93,247			4,985			1,965,130			—			2,063,362
Exchange (gains) losses	(1,106		)	(343		)	(8,129		)	—			(9,578		)
Loss (Gain) on sale of subsidiary	—			—			(7,088		)	—			(7,088		)
Interest expense	(4		)	140,644			69,123			—			209,763
Total expenses	$	92,137		$	145,286		$	9,740,786		$	—		$	9,978,209
Income (loss) before income tax and income (loss) from operating affiliates	$	(91,701	)	$	(134,233	)	$	794,247		$	(436	)	$	567,877
Income (loss) from operating affiliates	—			—			44,397			—			44,397
Equity in net earnings (losses) of subsidiaries	532,049			744,877			—			(1,276,926		)	—
Provision (benefit) for income tax	(620		)	—			42,749			—			42,129
Net income (loss)	$	440,968		$	610,644		$	795,895		$	(1,277,362	)	$	570,145
Non-controlling interests	—			78,595			51,018			(436		)	129,177
Net income (loss) attributable to common shareholders	$	440,968		$	532,049		$	744,877		$	(1,276,926	)	$	440,968

Comprehensive income (loss)	$	469,898		$	560,979		$	773,807		$	(1,334,786	)	$	469,898

____________


(1)	Results for the period include XL-Ireland, which prior to the Redomestication was the ultimate parent and is now in liquidation proceedings as outlined in Note 1, "Significant Accounting Policies." The Company expects the net assets of XL-Ireland to ultimately be distributed to XL-Bermuda upon completion of the liquidation.



	Year Ended December 31, 2015
Condensed Consolidating Statement of Income and Comprehensive Income (U.S. dollars in thousands, except per share data)	XL- Ireland			XL-Cayman			Other XL-Ireland Subsidiaries			Consolidating Adjustments and Eliminations			XL-Ireland Consolidated
Revenues:
Net premiums earned	$	—		$	—		$	8,226,425		$	—		$	8,226,425
Total net investment income	169			9,363			859,002			3,836			872,370
Total net realized gains (losses) on investments	—			13,814			197,129			(8,765		)	202,178
Net realized and unrealized gains (losses) on derivative instruments	—			12,363			40,760			—			53,123
Net realized and unrealized gains (losses) on life retrocession embedded derivative and derivative instruments - Life Funds Withheld Assets	—			—			(151,691		)	—			(151,691		)
Income (loss) from investment fund affiliates	—			—			73,320			—			73,320
Fee income and other	—			—			33,201			—			33,201
Total revenues	$	169		$	35,540		$	9,278,146		$	(4,929	)	$	9,308,926
Expenses:
Net losses and loss expenses incurred	$	—		$	—		$	4,766,200		$	—		$	4,766,200
Claims and policy benefits	—			—			115,997			—			115,997
Acquisition costs	—			—			1,317,448			—			1,317,448
Operating expenses	46,340			10,565			1,910,034			—			1,966,939
Exchange (gains) losses	(345		)	20			22,829			—			22,504
Extinguishment of debt	—			—			5,592			—			5,592
Interest expense	11			143,330			61,874			—			205,215
Total expenses	$	46,006		$	153,915		$	8,199,974		$	—		$	8,399,895
Income (loss) before income tax and income (loss) from operating affiliates	$	(45,837	)	$	(118,375	)	$	1,078,172		$	(4,929	)	$	909,031
Income (loss) from operating affiliates	—			—			44,740			—			44,740
Gain on sale of operating affiliate	—			—			340,407			—			340,407
Equity in net earnings (losses) of subsidiaries	1,253,609			1,449,404			—			(2,703,013		)	—
Provision (benefit) for income tax	620			245			(20,026		)	—			(19,161		)
Net income (loss)	$	1,207,152		$	1,330,784		$	1,483,345		$	(2,707,942	)	$	1,313,339
Non-controlling interests	—			77,175			29,012			—			106,187
Net income (loss) attributable to common shareholders	$	1,207,152		$	1,253,609		$	1,454,333		$	(2,707,942	)	$	1,207,152

Comprehensive income (loss)	$	409,310		$	455,767		$	656,491		$	(1,112,258	)	$	409,310



	Year Ended December 31, 2014
Condensed Consolidating Statement of Income and Comprehensive Income (U.S. dollars in thousands, except per share data)	XL- Ireland			XL-Cayman			Other XL-Ireland Subsidiaries			Consolidating Adjustments and Eliminations			XL-Ireland Consolidated
Revenues:
Net premiums earned	$	—		$	—		$	5,895,070		$	—		$	5,895,070
Total net investment income	275			20,256			889,611			8,483			918,625
Total net realized gains (losses) on investments	—			27,541			102,150			(22,229		)	107,462
Net realized and unrealized gains (losses) on derivative instruments	—			—			29,886			—			29,886
Net realized and unrealized gains (losses) on life retrocession embedded derivative and derivative instruments - Life Funds Withheld Assets	—			—			(488,222		)	—			(488,222		)
Income (loss) from investment fund affiliates	—			—			95,816			—			95,816
Fee income and other	—			—			43,630			—			43,630
Total revenues	$	275		$	47,797		$	6,567,941		$	(13,746	)	$	6,602,267
Expenses:
Net losses and loss expenses incurred	$	—		$	—		$	3,258,393		$	—		$	3,258,393
Claims and policy benefits	—			—			242,963			—			242,963
Acquisition costs	—			—			738,118			—			738,118
Operating expenses	9,646			13,102			1,318,567			—			1,341,315
Exchange (gains) losses	127			168			(37,863		)	—			(37,568		)
Loss (Gain) on sale of subsidiary	—			—			666,423			—			666,423
Interest expense	5			110,323			23,778			—			134,106
Total expenses	$	9,778		$	123,593		$	6,210,379		$	—		$	6,343,750
Income (loss) before income tax and income (loss) from operating affiliates	$	(9,503	)	$	(75,796	)	$	357,562		$	(13,746	)	$	258,517
Income (loss) from operating affiliates	—			—			107,218			—			107,218
Equity in net earnings (losses) of subsidiaries	197,843			350,602			—			(548,445		)	—
Provision (benefit) for income tax	—			(212		)	97,109			—			96,897
Net income (loss)	$	188,340		$	275,018		$	367,671		$	(562,191	)	$	268,838
Non-controlling interests	—			77,175			3,323			—			80,498
Net income (loss) attributable to common shareholders	$	188,340		$	197,843		$	364,348		$	(562,191	)	$	188,340

Comprehensive income (loss)	$	936,141		$	945,644		$	1,112,149		$	(2,057,793	)	$	936,141



	Year Ended December 31, 2016
Condensed Consolidating Statement of Cash Flows (U.S. dollars in thousands)	XL- Bermuda (1)			XL-Cayman			Other XL-Bermuda Subsidiaries			Consolidating Adjustments and Eliminations			XL-Bermuda Consolidated
Cash flows provided by (used in) operating activities:
Net cash provided by (used in) operating activities	$	978,695		$	775,100		$	2,116,580		$	(2,955,038	)	$	915,337
Cash flows provided by (used in) investing activities:
Proceeds from sale of fixed maturities and short-term investments	$	—		$	303,070		$	13,037,976		$	(583,466	)	$	12,757,580
Proceeds from redemption of fixed maturities and short-term investments	—			97,168			3,750,541			—			3,847,709
Proceeds from sale of equity securities	—			—			848,779			—			848,779
Purchases of fixed maturities and short-term investments	—			(534,502		)	(15,506,653		)	583,466			(15,457,689		)
Purchases of equity securities	—			—			(1,103,447		)	—			(1,103,447		)
Proceeds from sale of affiliates	—			324			396,767			—			397,091
Purchases of affiliates	—			—			(681,385		)	—			(681,385		)
Purchase of subsidiaries, net of acquired cash	—			—			(92,893		)	—			(92,893		)
Proceeds from sale of subsidiary, net of cash sold	—			—			22,998			—			22,998
Returns of capital from subsidiaries	274,727			465,203			—			(739,930		)	—
Change in restricted cash	—			—			1,488			—			1,488
Other, net	—			—			197,536			—			197,536
Net cash provided by (used in) investing activities	$	274,727		$	331,263		$	871,707		$	(739,930	)	$	737,767
Cash flows provided by (used in) financing activities:
Proceeds from issuance of common shares and exercise of stock options	$	9,854		$	—		$	—		$	—		$	9,854
Buybacks of common shares	(1,051,050		)	—			—			—			(1,051,050		)
Dividends paid on common shares	(222,761		)	(1,039,253		)	(1,915,785		)	2,955,038			(222,761		)
Return of capital	—			(274,727		)	(465,203		)	739,930			—
Distributions to non-controlling interests	—			(78,094		)	(52,353		)	—			(130,447		)
Contributions from non-controlling interests	—			—			47,524			—			47,524
Repayment of debt	—			—			(8,248		)	—			(8,248		)
Deposit liabilities	—			—			(69,482		)	—			(69,482		)
Net cash provided by (used in) financing activities	$	(1,263,957	)	$	(1,392,074	)	$	(2,463,547	)	$	3,694,968		$	(1,424,610	)
Effects of exchange rate changes on foreign currency cash	—			—			(57,742		)	—			(57,742		)
Increase (decrease) in cash and cash equivalents	$	(10,535	)	$	(285,711	)	$	466,998		$	—		$	170,752
Cash and cash equivalents – beginning of period	11,557			369,997			2,874,682			—			3,256,236
Cash and cash equivalents – end of period	$	1,022		$	84,286		$	3,341,680		$	—		$	3,426,988

____________


(1)	Results for the period include XL-Ireland, which prior to the Redomestication was the ultimate parent and is now in liquidation proceedings as outlined in Note 1, "Significant Accounting Policies." The Company expects the net assets of XL-Ireland to ultimately be distributed to XL-Bermuda upon completion of the liquidation.



	Year Ended December 31, 2015
Condensed Consolidating Statement of Cash Flows (U.S. dollars in thousands)	XL- Ireland			XL-Cayman			Other XL-Ireland Subsidiaries			Consolidating Adjustments and Eliminations			XL-Ireland Consolidated
Cash flows provided by (used in) operating activities:
Net cash provided by (used in) operating activities	$	561,468		$	148,850		$	669,515		$	(764,277	)	$	615,556
Cash flows provided by (used in) investing activities:
Proceeds from sale of fixed maturities and short-term investments	$	—		$	1,482,875		$	15,745,247		$	(359,894	)	$	16,868,228
Proceeds from redemption of fixed maturities and short-term investments	—			188,788			3,562,386			—			3,751,174
Proceeds from sale of equity securities	—			—			664,735			—			664,735
Purchases of fixed maturities and short-term investments	—			(1,296,980		)	(18,780,978		)	359,894			(19,718,064		)
Purchases of equity securities	—			—			(567,334		)	—			(567,334		)
Proceeds from sale of affiliates	—			—			748,575			—			748,575
Purchases of affiliates	—			—			(280,856		)	—			(280,856		)
Purchase of subsidiaries, net of acquired cash	(2,287,579		)	(2,317,699		)	1,267,564			2,317,699			(1,020,015		)
Proceeds from sale of subsidiary, net of cash sold	2,317,699			—			—			(2,317,699		)	—
Returns of capital from subsidiaries	65,037			2,047,000			—			(2,112,037		)	—
Change in restricted cash	—			—			(154,992		)	—			(154,992		)
Other, net	—			—			(155,019		)	—			(155,019		)
Net cash provided by (used in) investing activities	$	95,157		$	103,984		$	2,049,328		$	(2,112,037	)	$	136,432
Cash flows provided by (used in) financing activities:
Proceeds from issuance of common shares and exercise of stock options	$	9,976		$	—		$	—		$	—		$	9,976
Buybacks of common shares	(468,971		)	—			—			—			(468,971		)
Dividends paid on common shares	(208,516		)	(764,277		)	—			764,277			(208,516		)
Return of capital	—			(65,037		)	(2,047,000		)	2,112,037			—
Distributions to non-controlling interests	—			(77,093		)	(40,590		)	—			(117,683		)
Contributions from non-controlling interests	—			—			23,610			—			23,610
Proceeds from issuance of debt	—			980,600			—			—			980,600
Repayment of debt	—			—			(87,447		)	—			(87,447		)
Net proceeds from affiliated notional cash pooling programs (1)	—			—			—			—			—
Deposit liabilities	—			—			(84,758		)	—			(84,758		)
Net cash provided by (used in) financing activities	$	(667,511	)	$	74,193		$	(2,236,185	)	$	2,876,314		$	46,811
Effects of exchange rate changes on foreign currency cash	—			—			(64,377		)	—			(64,377		)
Increase (decrease) in cash and cash equivalents	$	(10,886	)	$	327,027		$	418,281		$	—		$	734,422
Cash and cash equivalents – beginning of period	22,443			42,970			2,456,401			—			2,521,814
Cash and cash equivalents – end of period	$	11,557		$	369,997		$	2,874,682		$	—		$	3,256,236



	Year Ended December 31, 2014
Condensed Consolidating Statement of Cash Flows (U.S. dollars in thousands)	XL- Ireland			XL-Cayman			Other XL-Ireland Subsidiaries			Consolidating Adjustments and Eliminations			XL-Ireland Consolidated
Cash flows provided by (used in) operating activities:
Net cash provided by (used in) operating activities	$	895,854		$	518,715		$	407,136		$	(858,521	)	$	963,184
Cash flows provided by (used in) investing activities:
Proceeds from sale of fixed maturities and short-term investments	$	—		$	574,673		$	4,793,978		$	(472,539	)	$	4,896,112
Proceeds from redemption of fixed maturities and short-term investments	—			351,737			3,250,056			—			3,601,793
Proceeds from sale of equity securities	—			—			571,410			—			571,410
Purchases of fixed maturities and short-term investments	—			(307,830		)	(7,322,967		)	472,539			(7,158,258		)
Purchases of equity securities	—			—			(445,504		)	—			(445,504		)
Proceeds from sale of affiliates	—			—			240,785			—			240,785
Purchases of affiliates	—			—			(371,226		)	—			(371,226		)
Proceeds from sale of subsidiary, net of cash sold	—			—			570,000			—			570,000
Returns of capital from subsidiaries	79,086			482,570			—			(561,656		)	—
Other, net	—			1,920			(195,411		)	—			(193,491		)
Net cash provided by (used in) investing activities	$	79,086		$	1,103,070		$	1,091,121		$	(561,656	)	$	1,711,621
Cash flows provided by (used in) financing activities:
Proceeds from issuance of common shares and exercise of stock options	$	6,367		$	—		$	—		$	—		$	6,367
Buybacks of common shares	(801,953		)	—			—			—			(801,953		)
Dividends paid on common shares	(169,620		)	(858,521		)	—			858,521			(169,620		)
Return of capital	—			(79,086		)	(482,570		)	561,656			—
Distributions to non-controlling interests	—			(77,002		)	(1,463		)	—			(78,465		)
Contributions from non-controlling interests	—			—			48,261			—			48,261
Repayment of debt	—			(600,000		)	—			—			(600,000		)
Net proceeds from affiliated notional cash pooling programs (1)	—			—			—			—			—
Deposit liabilities	—			—			(268,298		)	—			(268,298		)
Net cash provided by (used in) financing activities	$	(965,206	)	$	(1,614,609	)	$	(704,070	)	$	1,420,177		$	(1,863,708	)
Effects of exchange rate changes on foreign currency cash	—			—			(90,115		)	—			(90,115		)
Increase (decrease) in cash and cash equivalents	$	9,734		$	7,176		$	704,072		$	—		$	720,982
Cash and cash equivalents – beginning of period	12,709			35,794			1,752,329			—			1,800,832
Cash and cash equivalents – end of period	$	22,443		$	42,970		$	2,456,401		$	—		$	2,521,814