-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FE3O4CpVcSK1pdtoOF6PqVbI6Tz8I28sRorNiA7Kv+U/hKdkW/XaMzalw3VVacut /19/WclRsFGZ45xzCXCB5g== 0000950152-97-001111.txt : 19970314 0000950152-97-001111.hdr.sgml : 19970314 ACCESSION NUMBER: 0000950152-97-001111 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 19961231 FILED AS OF DATE: 19970214 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: MONRO MUFFLER BRAKE INC CENTRAL INDEX KEY: 0000876427 STANDARD INDUSTRIAL CLASSIFICATION: 7500 IRS NUMBER: 160838627 STATE OF INCORPORATION: NY FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-19357 FILM NUMBER: 97536282 BUSINESS ADDRESS: STREET 1: 200 HOLLEDER PARKWAY CITY: ROCHESTER STATE: NY ZIP: 14615-3808 BUSINESS PHONE: 7166476100 10-Q 1 MONRO MUFFLER BRAKE, INC. 1 FORM 10-Q SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 [ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 1996. ----------------- OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from to ------------- ------------ Commission File No. 0-19357 ------- MONRO MUFFLER BRAKE, INC. - - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) New York 16-0838627 - - -------------------------------------------------------------------------------- (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification #) 200 Holleder Parkway, Rochester, New York 14615 - - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip code) Registrant's telephone number, including area code 716-647-6400 ---------------------------- 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 ------ ------ As of February 10, 1997, 7,470,326 shares of the Registrant's Common Stock, par value $ .01 per share, were outstanding after giving effect to the five percent stock dividend paid August 5, 1996. 2 MONRO MUFFLER BRAKE, INC. INDEX -----
Part I Financial Information Page No. -------- Consolidated Balance Sheet at December 31, 1996 and March 31, 1996 3 Consolidated Statement of Income for the quarter and nine months ended December 31, 1996 and 1995 4 Consolidated Statement of Changes in Common Shareholders' Equity for the nine months ended December 31, 1996 5 Consolidated Statement of Cash Flows for the nine months ended December 31, 1996 and 1995 6 Notes to Consolidated Financial Statements 7 Management's Discussion and Analysis of Financial Condition and Results of Operations 9 Part II Other Information Item 6. Exhibits and Reports on Form 8-K 12 Signatures 13 Exhibit Index 14 Exhibit 10.1 15 Exhibit 11 16
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MONRO MUFFLER BRAKE, INC. CONSOLIDATED BALANCE SHEET (UNAUDITED) DECEMBER 31, MARCH 31, 1996 1996 ---- ---- (DOLLARS IN THOUSANDS) ASSETS Current assets: Cash and equivalents, including interest-bearing accounts of $5,264 at December 31, 1996 and $5,280 at March 31, 1996 $ 5,264 $ 5,280 Trade receivables 1,170 1,230 Inventories, at LIFO cost 18,637 16,538 Federal and state income taxes receivable 0 18 Deferred income tax asset 1,275 1,275 Other current assets 2,234 2,206 --------- --------- Total current assets 28,580 26,547 --------- --------- Property, plant and equipment 145,477 126,248 Less - Accumulated depreciation and amortization (41,445) (35,969) --------- --------- Net property, plant and equipment 104,032 90,279 Other noncurrent assets 3,019 3,229 --------- --------- Total assets $ 135,631 $ 120,055 ========= ========= LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Current portion of long-term debt $ 3,191 $ 3,165 Trade payables 5,650 6,897 Federal and state income taxes payable 793 0 Accrued expenses and other current liabilities Accrued interest 278 345 Accrued payroll, payroll taxes and other payroll benefits 3,542 2,836 Accrued insurance 1,986 1,552 Other current liabilities 3,627 2,861 --------- --------- Total current liabilities 19,067 17,656 Long-term debt 50,348 45,459 Deferred income tax liability 1,053 1,053 --------- --------- Total liabilities 70,468 64,168 --------- --------- Commitments Shareholders' equity: Class C Convertible Preferred Stock, $1.50 par value, $.239 and $.251 conversion value at December 31, 1996 and March 31, 1996, respectively; 150,000 shares authorized; 91,727 shares issued and outstanding 138 138 Common Stock, $.01 par value, 15,000,000 shares authorized; 7,470,326 shares and 6,914,835 shares issued and outstanding at December 31, 1996 and March 31, 1996, respectively 75 69 Additional paid-in capital 22,190 17,061 Retained earnings 42,760 38,619 --------- --------- Total shareholders' equity 65,163 55,887 --------- --------- Total liabilities and shareholders' equity $ 135,631 $ 120,055 ========= =========
These financial statements should be read in conjunction with the financial statements and notes thereto included in the Annual Report on Form 10-K (File No. 0-19357), filed by the Company with the Securities and Exchange Commission on June 28, 1996. - 3 - 4 MONRO MUFFLER BRAKE, INC. CONSOLIDATED STATEMENT OF INCOME (UNAUDITED)
QUARTER ENDED NINE MONTHS ENDED ------------- ----------------- DECEMBER 31, DECEMBER 31, ------------ ------------ 1996 1995 1996 1995 ---- ---- ---- ---- (DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA) Sales $33,560 $28,190 $109,104 $88,352 Cost of sales, including distribution and occupancy costs (a) 19,867 16,995 60,824 49,864 ------- ------- -------- ------- Gross profit 13,693 11,195 48,280 38,488 Operating, selling, general and administrative expenses 9,978 8,709 31,009 26,100 ------- ------- -------- ------- Operating income 3,715 2,486 17,271 12,388 Interest expense, net of interest income for the quarter of $3 in 1996 and $12 in 1995 (a) 837 544 2,502 1,783 Other expense, net 205 3 276 137 ------- ------- -------- ------- Income before provision for income taxes 2,673 1,939 14,493 10,468 Provision for income taxes 1,064 745 5,763 4,135 ------- ------- -------- ------- Net income $ 1,609 $ 1,194 $ 8,730 $ 6,333 ======= ======= ======== ======= Earnings per share $ .20 $ .15 $ 1.07 $ .78 ======= ======= ======== ======= Weighted average number of shares of common stock and common stock equivalents used in computing earnings per share 8,158 8,072 8,167 8,079 ======= ======= ======== ======= (a) Amounts paid under operating and capital leases with affiliated parties totaled $416 and $404 for the quarters ended December 31, 1996 and 1995, respectively, and $1,412 and $1,287 for the nine months ended December 31, 1996 and 1995, respectively.
These financial statements should be read in conjunction with the financial statements and notes thereto included in the Annual Report on Form 10-K (File No. 0-19357), filed by the Company with the Securities and Exchange Commission on June 28, 1996. - 4 - 5 MONRO MUFFLER BRAKE, INC. CONSOLIDATED STATEMENT OF CHANGES IN COMMON SHAREHOLDERS' EQUITY Nine Months Ended December 31, 1996 (UNAUDITED)
COMMON STOCK ADDITIONAL ------------ PAID-IN RETAINED SHARES AMOUNT CAPITAL EARNINGS ------ ------ ------- -------- (Amounts in thousands) Balance at March 31, 1996 6,915 $69 $17,061 $ 38,619 Net income 8,730 Exercise of stock options 202 2 545 5% stock dividend 353 4 4,584 (4,588) Rounding (1) ------ --- ------- -------- Balance at December 31, 1996 7,470 $75 $22,190 $ 42,760 ====== === ======== ========
These financial statements should be read in conjunction with the financial statements and notes thereto included in the Annual Report on Form 10-K (File No. 0-19357), filed by the Company with the Securities and Exchange Commission on June 28, 1996. -5- 6
MONRO MUFFLER BRAKE, INC. CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) NINE MONTHS ENDED DECEMBER 31, 1996 1995 ---- ---- (DOLLARS IN THOUSANDS) INCREASE (DECREASE) IN CASH Cash flows from operating activities: Net income $ 8,730 $ 6,333 -------- -------- Adjustments to reconcile net income to net cash provided by operating activities - Depreciation and amortization 6,036 4,949 Loss on disposal of property, plant and equipment 50 25 Decrease in trade receivables 60 198 Increase in inventories (2,099) (2,538) (Increase) decrease in other current assets (28) 126 Increase in other noncurrent assets (3) (434) (Decrease) increase in trade payables (1,247) 417 Increase (decrease) in accrued expenses 1,839 (9) Increase in federal and state income taxes payable 811 129 -------- -------- Total adjustments 5,419 2,863 -------- -------- Net cash provided by operating activities 14,149 9,196 -------- -------- Cash flows from investing activities: Capital expenditures (19,595) (19,417) Proceeds from the disposal of property, plant and equipment 44 52 Payments for purchase of Muffler Xpress (961) -------- -------- Net cash used for investing activities (19,551) (20,326) -------- -------- Cash flows from financing activities: Proceeds from the sale of common stock 547 Proceeds from borrowings 42,195 36,522 Principal payments on long-term debt and capital lease obligations (37,356) (23,418) -------- -------- Net cash provided by financing activities 5,386 13,104 -------- -------- (Decrease) increase in cash (16) 1,974 Cash at beginning of year 5,280 4,855 ======== ======== Cash at December 31 $ 5,264 $ 6,829 ======== ========
These financial statements should be read in conjunction with the financial statements and notes thereto included in the Annual Report on Form 10-K (File No. 0-19357), filed by the Company with the Securities and Exchange Commission on June 28, 1996. - 6 - 7 MONRO MUFFLER BRAKE, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Note 1 - Stock Dividend - - ----------------------- On May 2, 1996, the Board of Directors declared a five percent stock dividend, paid August 5, 1996, to stockholders of record as of June 21, 1996. The consolidated financial statements, including all share information therein, have been restated to reflect this dividend. Additionally, in accordance with antidilution provisions of the Class C Convertible Preferred Stock, the conversion value of the preferred stock was restated from $.251 per share to $.239 per share. Shares reserved for issuance to non-employee directors, officers and key employees under outstanding options, under the 1984, 1987 and 1989 Incentive Stock Option Plans and under the Non-Employee Directors Stock Option Plan have also been retroactively adjusted for the five percent stock dividend. Note 2 - Inventories - - -------------------- The Company's inventories consist of automotive parts and tires. Substantially all merchandise inventories are valued under the last-in, first-out (LIFO) method. Under the first-in, first-out (FIFO) method, these inventories would have been $682,000 and $647,000 higher at December 31, 1996 and March 31, 1996, respectively. The FIFO value of inventory approximates the current replacement cost. Note 3 - Cash and Equivalents - - ----------------------------- The Company's policy is to invest cash in excess of operating requirements in income producing investments. Cash equivalents of $5,264,000 at December 31, 1996 and $5,280,000 at March 31, 1996 include money market accounts which have maturities of three months or less. Note 4 - Supplemental Disclosure of Cash Flow Information - - --------------------------------------------------------- The following transactions represent noncash investing and financing activities during the periods indicated: NINE MONTHS ENDED DECEMBER 31, 1996: Capital lease obligations of $162,000 were incurred under various lease obligations. In connection with the termination of a capital lease, the Company reduced debt and fixed assets by $112,000. In connection with the declaration of a five percent stock dividend (see Note 1), the Company increased common stock and additional paid-in capital by $4,000 and $4,584,000, respectively, and decreased retained earnings by $4,588,000. -7- 8 MONRO MUFFLER BRAKE, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NINE MONTHS ENDED DECEMBER 31, 1995: In connection with the declaration of a five percent stock dividend, the Company increased common stock and additional paid-in capital by $4,000 and $5,998,000, respectively, and decreased retained earnings by $6,002,000. In conjunction with the acquisition of Muffler Xpress, the Company assumed liabilities of $77,000 and recorded a corresponding increase to goodwill. CASH PAID DURING THE PERIOD:
NINE MONTHS ENDED DECEMBER 31, ----------- 1996 1995 ---- ---- Interest, net $2,819,000 $2,233,000 Income taxes, net 4,952,000 4,006,000
Note 5 - Other These financial statements should be read in conjunction with the financial statements and notes thereto included in the Annual Report on Form 10-K (File No. 0-19357), filed by the Company with the Securities and Exchange Commission on June 28, 1996. -8- 9 MONRO MUFFLER BRAKE, INC. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS RESULTS OF OPERATIONS The statements contained in this Form 10-Q which are not historical facts, including (without limitation) statements made in the Management's Discussion and Analysis of Financial Condition and Results of Operations, may contain statements of future expectations and other forward-looking statements that are subject to important factors that could cause actual results to differ materially from those in the forward-looking statements, including (without limitation) product demand, the effect of economic conditions, the impact of competitive services and pricing, product development, parts supply restraints or difficulties, industry regulation, the continued availability of capital resources and financing and other risks set forth or incorporated elsewhere herein and in the Company's Securities and Exchange Commission filings. The following table sets forth income statement data of Monro Muffler Brake, Inc. ("Monro" or the "Company") expressed as a percentage of sales for the fiscal periods indicated.
Quarter Ended December 31, Nine Months Ended December 31, -------------------------- ------------------------------ 1996 1995 1996 1995 ---- ---- ---- ---- Sales ..................................... 100.0% 100.0% 100.0% 100.0% Cost of sales, including distribution and occupancy costs ...................... 59.2 60.3 55.7 56.4 ---- ---- ---- ---- Gross profit .............................. 40.8 39.7 44.3 43.6 Operating, selling, general and administrative expenses .................. 29.7 30.9 28.5 29.6 ---- ---- ---- ---- Operating income .......................... 11.1 8.8 15.8 14.0 Interest expense - net .................... 2.5 1.9 2.3 2.0 Other expenses - net ...................... .6 .2 .2 ---- ---- ---- ---- Income before provision for income taxes .. 8.0 6.9 13.3 11.8 Provision for income taxes ................ 3.2 2.7 5.3 4.6 ---- ---- ---- ---- Net income ................................ 4.8% 4.2% 8.0% 7.2% === === === ===
THIRD QUARTER AND NINE MONTHS ENDED DECEMBER 31, 1996 COMPARED TO THIRD QUARTER AND NINE MONTHS ENDED DECEMBER 31, 1995. Sales were $33.6 million for the quarter ended December 31, 1996 compared with $28.2 million for the quarter ended December 31, 1995. The sales increase of $5.4 million, or 19.0%, was due to an increase in sales of approximately $3.9 million relating to stores opened since the beginning of fiscal 1996, and an increase in comparable store sales of 6.5%. Sales for the nine months ended December 31, 1996 were $109.1 million compared with $88.4 million for the comparable period of the prior year. The sales increase of $20.7 million, or 23.5%, was due to a comparable store sales increase of 10.0% and an increase in sales of approximately $13.0 million relating to stores opened since the beginning of fiscal 1996. At December 31, 1996, the Company had 302 stores in operation compared to 264 at December 31, 1995. -9- 10 Management believes that year-to-date sales increases were driven, in part, by pent up demand from previously deferred repairs, combined with a number of industry factors. These include an increase in the average age of cars, a decrease in the number of service bays, an increase in the number of registered vehicles, and a shift in the consumer mentality from "do-it-yourself" to "do-it-for-me" caused by the increased complexity of cars. Gross profit for the quarter ended December 31, 1996 was $13.7 million, or 40.8% of sales, compared with $11.2 million, or 39.7% of sales, for the quarter ended December 31, 1995. Gross profit for the nine months ended December 31, 1996 was $48.3 million, or 44.3% of sales, compared to $38.5 million, or 43.6% of sales, for the nine months ended December 31, 1995. The increase in gross profit as a percentage of sales relates primarily to increases in selling prices. Additionally, certain material costs were reduced as a result of renegotiated pricing with various vendors. Operating, selling, general and administrative expenses (OSG&A) for the quarter ended December 31, 1996 increased by $1.3 million to $10.0 million over the quarter ended December 31, 1995, and decreased as a percentage of sales from 30.9% to 29.7%. For the nine months ended December 31, 1996, these expenses increased by $4.9 million to $31.0 million over the comparable period in the prior year, and were 28.5% of sales as compared to 29.6% in the prior year. The increase in total dollars expended is primarily attributable to increased store supervision and increased store support expenses related to the Company's expansion. For the three and nine months ended December 31, 1996, these expenses declined as a percentage of sales largely due to management's continued focus on discretionary spending and controlling costs. Net interest expense for the quarter ended December 31, 1996, increased by approximately $.3 million compared to the comparable period in the prior year, and increased from 1.9% to 2.5% as a percentage of sales for the same periods. Net interest expense for the nine months ended December 31, 1996, increased by approximately $.7 million compared to the comparable period in the prior year, and rose from 2.0% to 2.3% as a percentage of sales for the same periods. The increase in expense is largely due to an increase in the weighted average debt outstanding for the quarter and nine months ended December 31, 1996 as compared to the same periods in the prior year. Net income for the quarter ended December 31, 1996 of approximately $1.6 million increased 34.8% over net income for the quarter ended December 31, 1995. For the nine months ended December 31, 1996, net income of approximately $8.7 million increased 37.9% over the prior year, due to the factors discussed above. Interim Period Reporting The data included in this report are unaudited and are subject to year-end adjustments; however, in the opinion of management, all known adjustments (which consist only of normal recurring adjustments) have been made to present fairly the Company's operating results for the unaudited periods. The results for interim periods are not necessarily indicative of results to be expected for the fiscal year. -10- 11 CAPITAL RESOURCES AND LIQUIDITY Capital Resources The Company's primary capital requirement has been the funding of its new store expansion program and the upgrading of facilities and systems in existing shops. For the nine months ended December 31, 1996, the Company spent $19.6 million for equipment and new store construction. Funds were provided primarily by cash flow from operations and bank financing. Management believes that the Company has sufficient resources available (including cash and equivalents, cash flow from operations and bank financing) to expand its business as currently planned for the next several years. Liquidity The Company has a line of credit from a commercial bank of $7.5 million. No amounts were outstanding under this short-term borrowing facility at December 31, 1996. Through February 7, 1996, the Company had a real estate line of credit of $25 million to be used for placement of mortgages. The Company had utilized $13.2 million of the real estate line of credit from permanent mortgages as of that date. On February 7, 1996, the Company finalized an agreement for a $30 million revolving credit facility with two banks. The unsecured facility has a three year term and bears interest at the prime rate or other rate options based on company performance. In October 1996, the Company completed the modification of 33 of its existing mortgages, reducing the interest rates by 25 to 60 basis points each. The Company has outstanding $5.5 million in principal amount of its 10.65% Senior Notes due 1999 (the "Senior Notes") with Massachusetts Mutual Life Insurance Company pursuant to a Senior Note Agreement. The third of six equal annual installments of principal in the amount of $1.8 million was paid on April 1, 1996. During September 1995, the Company completed financing for its new office/warehouse facility via a 10 year mortgage in the amount of $2.9 million, amortizable over 20 years, and an eight year term loan in the amount of $.7 million. Certain of the Company's long-term debt agreements require, among other things, the maintenance of specified current ratios, interest and rent coverage ratios and amounts of tangible net worth, and also contain restrictions on dividend payments and capital expenditures. -11- 12 MONRO MUFFLER BRAKE, INC. PART II - OTHER INFORMATION Item 6. Exhibits and Reports on Form 8-K -------------------------------- a. Exhibits 10.1 - Purchase Agreement between Walker Manufacturing Company, a division of Tenneco Automotive and Monro Muffler Brake, Inc. dated as of November 5, 1996. 11 - Statement of Computation of Per Share Earnings. b. Reports on Form 8-K - The Company was not required to file reports on Form 8-K during the quarter ended December 31, 1996. -12- 13 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. MONRO MUFFLER BRAKE, INC. DATE: February 13, 1997 By /s/ Lawrence C. Day ------------------------------------------- Lawrence C. Day President and Chief Executive Officer DATE: February 13, 1997 By /s/ Catherine D'Amico ----------------------------------------- Catherine D'Amico Senior Vice President-Finance, Treasurer and Chief Financial Officer -13- 14
EXHIBIT INDEX Exhibit No. Description Page No. - - ------------ ----------- -------- 10.1 Purchase Agreement between Walker Manufacturing Company, a division of Tenneco Automotive and Monro Muffler Brake, Inc. dated as of November 5, 1996. 15 11 Statement of computation of per share earnings. 16
-14- EX-10.1 2 EXHIBIT 10.1 1 Exhibit 10.1 RE: Purchase Agreement This is to confirm the commitment of Monro Muffler Brake, Inc., with respect to the changeover proposal as previously discussed. You agree that Walker will be your primary exhaust supplier commencing as of the completion of the changeover and continuing for a minimum of three (3) years. In addition, you will purchase $6,500,000 in the twelve (12) months commencing JANUARY 1, 1997. Kindly indicate your understanding and agreement with the above by signing below where indicated and return one copy to Walker Manufacturing Company, to the attention of Charles E. Harris. If you should have any questions regarding this matter, do not hesitate to call. Very truly yours, Walker Manufacturing Company /s/ Charles E. Harris - - ----------------------------- Charles E. Harris, Director Accepted: By: /s/ Lawrence C. Day ------------------------------- Title: Chief Executive Officer Date: November 5, 1996 -15- EX-11 3 EXHIBIT 11 1 MONRO MUFFLER BRAKE, INC. Exhibit 11 STATEMENT OF COMPUTATION OF PER SHARE EARNINGS Earnings per share for each period was computed by dividing net income for such period by the weighted average number of shares of Common Stock and common stock equivalents outstanding during such period. All share data have been restated to reflect the 5% stock dividend paid August 5, 1996. (See Note 1 of Notes to Consolidated Financial Statements).
QUARTER ENDED NINE MONTHS ENDED DECEMBER 31, DECEMBER 31, ------------ ------------ 1996 1995 1996 1995 ---- ---- ---- ---- (DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA) EARNINGS Net Income $1,609 $1,194 $8,730 $6,333 ====== ====== ====== ====== SHARES Weighted average number of shares of Common Stock 7,470 7,201 7,412 7,201 Assumed conversion of Class C Convertible Preferred Stock 576 576 576 576 Dilutive effect of outstanding options 112 295 179 302 ------ ------ ------ ------ Weighted average number of common and common equivalent shares 8,158 8,072 8,167 8,079 ====== ====== ====== ====== EARNINGS PER SHARE $ .20 $ .15 $ 1.07 $ .78 ====== ====== ====== ======
-16- EX-27 4 EXHIBIT 27
5 1,000 9-MOS MAR-31-1997 OCT-01-1996 DEC-31-1996 5,264 0 1,170 0 18,637 28,580 145,477 41,445 135,631 19,067 0 75 0 138 64,950 135,631 109,104 109,104 60,824 31,009 276 0 2,502 14,493 5,763 8,730 0 0 0 8,730 1.07 1.07
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