-----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, KTAA3zmZcO5AyYU4JRe/TeOcwK8pOu3glJSif/cvFHa49deBx/8tMuUI2dLQCVZP lZ18D3a8bCVwuaEn5hrUEw== 0000888455-96-000010.txt : 19961001 0000888455-96-000010.hdr.sgml : 19961001 ACCESSION NUMBER: 0000888455-96-000010 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960803 FILED AS OF DATE: 19960917 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: PETCO ANIMAL SUPPLIES INC CENTRAL INDEX KEY: 0000888455 STANDARD INDUSTRIAL CLASSIFICATION: 5990 IRS NUMBER: 330479906 STATE OF INCORPORATION: DE FISCAL YEAR END: 0128 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-23574 FILM NUMBER: 96631415 BUSINESS ADDRESS: STREET 1: 9125 REHCO RD CITY: SAN DIEGO STATE: CA ZIP: 92121 BUSINESS PHONE: 6194537845 MAIL ADDRESS: STREET 1: 9125 REHCO RD CITY: SAN DIEGO STATE: CA ZIP: 92121 10-Q 1 FORM 10-Q SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 (Mark One) (X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 3, 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 number: 0-23574 PETCO ANIMAL SUPPLIES, INC. (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) Delaware 33-0479906 9125 Rehco Road San Diego, CA 92121 (619) 453-7845 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 the number of shares outstanding of each of the registrant's classes of common stock, as of the latest practicable date. Title Date Outstanding Common Stock, $.0001 Par Value September 13, 1996 16,317,878 PETCO Animal Supplies Inc. Index Part I Financial Information Page Item 1. Consolidated Financial Statements Consolidated Balance Sheets at February 3, 1996 and August 3, 1996 3 Consolidated Statements of Operations for the thirteen and twenty-six weeks ended July 29, 1995 and August 3, 1996 4 Consolidated Statement of Stockholders' Equity for the twenty-six weeks ended August 3, 1996 5 Consolidated Statements of Cash Flows for the twenty-six weeks ended July 29, 1995 and August 3, 1996 6 Notes to Consolidated Financial Statements 7 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 8 Part II Other Information Item 6. Exhibits and Reports on Form 8-K 11 Signatures 12 PETCO ANIMAL SUPPLIES, INC. CONSOLIDATED BALANCE SHEETS (unaudited, in thousands, except shares) February 3,1996 August 3,1996 ASSETS Current assets: Cash and cash equivalents $ 9,834 $ 52,232 Receivables 4,545 4,526 Inventories 45,363 54,699 Other current assets 718 993 Total current assets 60,460 112,450 Fixed assets, net 57,941 71,610 Goodwill 31,767 38,095 Deferred tax assets 10,521 12,777 Other assets 1,426 1,696 $ 162,115 $ 236,628 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 25,592 $ 22,035 Accrued expenses 12,520 14,610 Accrued salaries and employee benefits 5,186 5,061 Revolving credit facility _ _ Current portion of capital lease and other obligations 2,748 3,941 Total current liabilities 46,046 45,647 Capital lease and other obligations, excluding current portion 11,522 12,619 Accrued store closing costs 4,804 7,126 Deferred rent 3,463 2,010 Stockholders' equity: Preferred stock, $.0001 par value, 2,000,000 shares authorized, no shares issued and outstanding - - Common stock, $.0001 par value, 100,000,000 shares authorized, 13,381,673 and 16,317,066 shares issued and outstanding, respectively 1 2 Additional paid-in capital 131,407 210,485 Accumulated deficit (35,128) (41,261) Total stockholders' equity 96,280 169,226 Commitments and contingencies $ 162,115 $ 236,628
See accompanying notes to consolidated financial statements PETCO ANIMAL SUPPLIES, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited, in thousands, except share data) Thirteen weeks ended Twenty-six weeks ended July 29,1995 August 3,1996 July 29,1995 August 3,1996 Net sales $ 63,301 $ 103,571 $ 122,512 $ 197,272 Cost of sales and occupancy costs 47,797 76,729 93,151 147,764 Gross profit 15,504 26,842 29,361 49,508 Selling, general, and administrative expenses 13,219 22,509 25,531 42,787 Merger and nonrecurring charges -- 14,945 -- 14,945 Operating income (loss) 2,285 (10,612) 3,830 (8,224) Interest income (expense) 302 258 79 (88) Earnings (loss) before income taxes 2,587 (10,354) 3,909 (8,312) Income taxes (benefits) 779 (3,304) 1,177 (2,395) Net earnings (loss) $ 1,808 $ (7,050) $ 2,732 $ (5,917) Net earnings (loss) per common and common equivalent share $ 0.14 $ (0.43) $ 0.24 $ (0.40) Weighted average number of common and common equivalent shares outstanding 13,125,074 16,224,355 11,443,860 14,874,304
See accompanying notes to consolidated financial statements PETCO ANIMAL SUPPLIES, INC. CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (unaudited, in thousands, except share data) Common Stock Shares Amount Additional Accumulated Total Paid-in Capital Deficit Stockholders' Equity Balances at February 3, 1996 13,381,673 $ 1 $ 131,407 $ (35,128) $ 96,280 Sale of common stock 2,892,758 1 78,633 -- 78,634 Exercise of options 42,289 - 437 -- 437 Issuance of stock for services 515 - 13 -- 13 Retirement of stock (169) - (5) -- (5) Distributions to shareholders -- - -- (216) (216) Net loss -- - -- (5,917) (5,917) Balances at August 3, 1996 16,317,066 $ 2 $ 210,485 $ (41,261) $ 169,226
See accompanying notes to consolidated financial statements PETCO ANIMAL SUPPLIES, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited, in thousands) Twenty-six Weeks Ended July 29, 1995 August 3,1996 Cash flows from operating activities: Net earnings $ 2,732 $ (5,917) Depreciation and amortization 3,178 6,414 Deferred taxes -- (2,256) Other 10 270 Changes in assets and liabilities: Receivables (136) 19 Inventories (3,344) (9,336) Other current assets (320) (275) Accounts payable (4,224) (3,557) Accrued expenses (39) 2,090 Accrued salaries and employee benefits (1,197) (125) Accrued store closing costs (124) 2,322 Deferred rent 228 (1,453) Net cash used in operating activities (3,236 (11,804) Cash flows from investing activities: Additions to fixed assets (13,936) (16,003) Net cash invested in acquisitions of businesses (2,375) (7,788) Net cash used in investing activities (16,311) (23,791) Cash flows from financing activities: Repayment of capital lease and other obligations (482) (870) Proceeds from the issuance of common stock 46,859 79,079 Distributions to shareholders -- (216) Net cash provided by financing activities 46,377 77,993 Net increase in cash and cash equivalents 26,830 42,398 Cash and cash equivalents at beginning of year 6,956 9,834 Cash and cash equivalents at end of period $ 33,786 $ 52,232
See accompanying notes to financial statements PETCO ANIMAL SUPPLIES, INC. Notes to Consolidated Financial Statements Note 1 - General In the opinion of management of Petco Animal Supplies, Inc. ("the Company"), the unaudited consolidated financial statements contain all adjustments, consisting of normal recurring adjustments , necessary to present the financial position, results of operations and cash flows as of and for the periods ended August 3, 1996. Because of the seasonal nature of the Company's business, the results of operations for the thirteen and twenty-six weeks ended July 29, 1995 and August 3, 1996, are not necessarily indicative of the results to be expe cted for the full year. For further information, refer to the consolidated financial statements and footnotes thereto for the fiscal year ended February 3, 1996 included in the Company's Form 10-K Annual Report (File No. 0-23574) filed with the Securities and Exchange Commission on April 27, 1996. Note 2 - Acquisitions In March 1996, the Company assumed lease obligations and purchased all tangible personal property and inventory used in connection with eight pet food and supply stores located in Maryland and Virginia and operated under the trade name P.T. Moran ("P.T. Moran"). In July 1996, the Company acquired all of the outstanding equity securities of a retailer with eight pet food and supply stores located in New York, New Jersey and Connecticut and operated under the trade name Pet Nosh ("Pet Nosh") for an aggregate consideration of 645,533 shares of common stock. The transaction was accounted for as a pooling of interests and, therefore, all prior period financial statements presented have been restated to reflect this acquisition. Prior to the acquisition, Pet Nosh used a December 31 fiscal year end while the Company's fiscal year ends on the Saturday nearest January 31. The restated financial statements combine historical financial statements of the Company for the fiscal year ended February 3, 1996, with the historical financial statements of Pet Nosh for the fiscal year ended December 31, 1995. Accordingly, the second quarter ended August 3, 1996 consists of thirteen weeks of operating results of the Company and four months of operating results of Pet Nosh. Distributions to shareholders reflected in the accompanying Consolidated Statement of Stockholders' Equity are related to activities of acquired businesses. As a result of the acquisition of P.T. Moran, Pet Nosh and leases for four former Herman's Sporting Goods locations, the Company recorded merger and nonrecurring charges of $14.9 million during the thirteen weeks ended August 3, 1996. These charges included transaction costs, costs attributable to lease cancellation and closure of duplicate or inadequate facilities, facility conversion costs, cancellation of certain contractual obligations and other integration costs. Note 3 - Net Earnings (Loss) Per Share Net earnings (loss) per common and common equivalent share are computed by dividing net earnings (loss) by the weighted average number of common and common equivalent shares outstanding during the period. For the thirteen and twenty-six weeks ended July 29, 1995 and August 3, 1996, common share equivalents were not included as their effects would not be materially dilutive. Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations General The Company currently utilizes both superstore and traditional store formats and follows a strategy of converting and expanding its store base from a traditional store format to a superstore format. As a result of this strategy, the Company has opened and acquired superstores, has expanded, remodeled, and relocated traditional stores into superstores, collectively referred to as conversions, and has closed underperforming stores. At August 3, 1996, the Company operated 274 stores, including 206 superstores, in fifteen states and the District of Columbia. At July 29, 1995, the Company operated 231 stores, of which 139 were superstores. As a result of the Company's plan to open approximately 40 to 50 superstores this year, including conversions of existing traditional stores into superstore formats, the Company anticipates certain costs to increase as a percentage of sales in the near term. In addition, the timing of new superstore openings and related preopening expenses and the amount of revenue contributed by new and existing superstores may cause the Company's quarterly results of operations to fluctuate. The Company expects continued downward pressure on its gross profit as a percentage of sales from higher occupancy costs in new stores and increased competitive pressures in certain markets. This trend should be offset, however, by increased sales from maturing stores and the benefit of expanded merchandise assortments in existing stores. Increased payroll, advertising and other store level expenses as a percentage of sales in new stores should also contribute to lower store operating margins. In addition, the Company charges preopening costs associated with each new superstore to earnings as incurred. Therefore, the Company expects that the opening of a large number of new superstores in a given quarter may adversely impact its quarterly results of operations for that quarter. In March 1996, the Company acquired eight P.T. Moran stores and in July 1996 acquired eight Pet Nosh stores. The Company is in the process of integrating the merchandise mix, and operating and marketing philosophies into the Company format of superstores. Although the Company does not expect the results of the P.T. Moran and Pet Nosh stores to be dilutive on its fiscal 1996 operating results, there can be no assurances these stores can achieve their anticipated profitability. The Company's business is also subject to some seasonal fluctuations. Historically, the Company has realized a higher portion of its net sales during the month of December and a lower portion of its net sales in other winter months and fall than during the other months of the year. Results of Operations Second Quarter 1996 Compared to Second Quarter 1995 Net sales increased 63.7% to $103.6 million for the thirteen weeks ended August 3, 1996, ("second quarter 1996") from $63.3 million for the thirteen weeks ended July 29, 1995, ("second quarter 1995"). The increase in net sales in second quarter 1996 resulted primarily from the addition of 80 superstores, including the conversion of 26 traditional stores into superstores, and partially offset by the closing of nine stores in the past year, and a comparable store net sales increase of 18.3%. The comparable store net sales increase was attributable to maturing superstores, more effective marketing efforts and expanded merchandise assortments in existing stores. The net increase in the Company's store base accounted for approximately $29.4 million, or 73.0% of the net sales increase, and $10.9 million, or 27.0% of the net sales increase, was attributable to the increase in comparable store net sales. Gross profit, defined as net sales less cost of sales including occupancy costs, increased $11.3 million or 72.9% to $26.8 million in second quarter 1996 from $15.5 million in second quarter 1995. Gross profit as a percentage of net sales increased to 25.9% in second quarter 1996 from 24.5% in second quarter 1995 primarily due to lower distribution expenses related to the more efficient operation of the Company's central distribution facility during the current period. Selling, general and administrative expenses increased $9.3 million, or 70.5%, to $22.5 million in second quarter 1996 compared to $13.2 million in second quarter 1995. Selling, general and administrative expenses increased primarily as a result of higher personnel and related costs associated with new store openings and acquisitions. As a percentage of net sales, these expenses increased to 21.7% in second quarter 1996 from 20.9% in second quarter 1995 primarily due to increased amortization of goodwill. Merger and nonrecurring charges of $14.9 million were recorded in second quarter 1996 following the acquisition of P.T. Moran, Pet Nosh and the former Herman's Sporting Goods locations. Operating loss of $10.6 million was incurred in second quarter 1996, reflecting the $14.9 million in merger and nonrecurring charges, compared to operating income of $2.3 million in second quarter 1995. Operating income, excluding the merger and nonrecurring charges, on a comparable basis, increased 87.0% to $4.3 million in second quarter 1996 from $2.3 million in second quarter 1995 and increased as a percentage of net sales to 4.2% in second quarter 1996 from 3.6% in second quarter 1995. Net interest income was $0.3 million in both second quarter 1996 and second quarter 1995. Income tax benefits were $3.3 million in second quarter 1996, primarily due to the merger and nonrecurring charges, compared to income taxes of $0.8 million in second quarter 1995. Net loss of $7.0 million was incurred for second quarter 1996, reflecting the merger and nonrecurring charges and related income tax benefits, compared to net earnings of $1.8 million for the prior year quarter. Net earnings, excluding merger and nonrecurring charges and related income tax benefits, on a comparable basis, increased 50.0% to $2.7 million, or $0.17 per share, for second quarter 1996 compared to net earnings of $1.8 million, or $0.14 per share, for second quarter 1995. Twenty-six Weeks Ended August 3, 1996 Compared to Twenty-six Weeks Ended July 29, 1995 Net sales increased 61.1% to $197.3 million for the twenty-six weeks ended August 3, 1996 from $122.5 million for the twenty-six weeks ended July 29, 1995. The increase in net sales resulted primarily from the addition of 80 superstores, including the conversion of 26 traditional stores into superstores, and partially offset by the closing of nine stores in the past year, and a comparable store net sales increase of 18.3%. The comparable store net sales increase was attributable to maturing superstores, more effective marketing efforts and expanded merchandise assortments in existing stores. The net increase in the Company's store base accounted for approximately $53.6 million, or 71.7% of the net sales increase, and $21.2 million, or 28.3% of the net sales increase, was attributable to the increase in comparable store net sales. Gross profit increased $20.1 million or 68.4% to $49.5 million for the twenty-six weeks ended August 3, 1996 from $29.4 million for the same period last year. Gross profit as a percentage of net sales increased to 25.1% for the twenty- six weeks ended August 3, 1996 from 24.0% for the twenty-six weeks ended July 29, 1995 primarily due to lower distribution expenses related to the more efficient operation of the Company's central distribution facility during the current period. Selling, general and administrative expenses increased $17.3 million, or 67.8%, to $42.8 million for the twenty-six weeks ended August 3, 1996 compared to $25.5 million for the same period last year. Selling, general and administrative expenses increased primarily as a result of higher personnel and related costs associated with new store openings and acquisitions. As a percentage of net sales, these expenses increased to 21.7% for the twenty-six weeks ended August 3, 1996 from 20.8% for the twenty-six weeks ended July 29, 1995 primarily due to increased amortization of goodwill. Merger and nonrecurring charges of $14.9 million were recorded in the twenty-six weeks ended August 3, 1996 following the acquisition of P.T. Moran, Pet Nosh, and the former Herman's Sporting Goods locations. Operating loss of $8.2 million was incurred in the twenty-six weeks ended August 3, 1996, reflecting the $14.9 million in merger and nonrecurring charges, compared to operating income of $3.8 million in the prior year. Operating income, excluding the merger and nonrecurring charges, on a comparable basis, increased 76.3% to $6.7 million for the twenty- six weeks ended August 3, 1996 from $3.8 million for the twenty-six weeks ended July 29, 1995 and increased as a percentage of net sales to 3.4% for the twenty-six weeks ended August 3, 1996 from 3.1% for the same period last year. Net interest expense was $0.1 million for the twenty-six weeks ended August 3, 1996 compared to net interest income of $0.1 million for the same period last year. Income tax benefits were $2.4 million in the twenty-six weeks ended August 3, 1996, primarily due to the merger and nonrecurring charges recorded in second quarter 1996, compared to income taxes of $1.2 million in the prior year. Net loss of $5.9 million was incurred for the twenty-six weeks ended August 3, 1996, reflecting the merger and nonrecurring charges and related income tax benefits, compared to net earnings of $2.7 million for the same period of the prior year. Net earnings, excluding merger and nonrecurring charges and related tax benefits, on a comparable basis, increased 40.7% to $3.8 million, or $0.26 per share, for the twenty-six weeks ended August 3, 1996 compared to net earnings of $2.7 million, or $0.24 per share, for the twenty-six weeks ended July 29, 1995. Liquidity and Capital Resources The Company has financed its operations and expansion program through internal cash flow, external borrowings and the sale of equity securities. At August 3, 1996, total assets were $236.6 million, of which $112.5 million were current assets. Net cash used in operating activities was $11.8 million for the twenty-six weeks ended August 3, 1996 and $3.2 million for the same period of the prior year. The Company's sales are substantially on a cash basis, therefore cash flow generated from operating stores provides a source of liquidity to the Company. The principal use of operating cash is for the purchase of merchandise inventories. A portion of the Company's inventory purchases is financed through vendor credit terms. The Company uses cash in investing activities to acquire stores, purchase fixed assets for new and converted stores and, to a lesser extent, to purchase warehouse and office fixtures, equipment and computer hardware and software in support of its distribution and administrative functions. During the twenty-six weeks ended August 3, 1996 the Company acquired two retailers of pet food and supplies and during the twenty-six weeks ended July 29, 1995 the Company acquired two retailers of pet food and supplies. Net cash of $7.8 million and $2.4 million, respectively, was invested in the acquisitions of these businesses. Cash used in investing activities was $23.8 million for the twenty-six weeks ended August 3, 1996 and $16.3 million for the same period of the prior year. The Company also finances some of its purchases of equipment and fixtures through capital leases and other obligations. Purchases of $3.1 million and $2.1 million of fixed assets were financed in this manner during the twenty-six weeks ended August 3, 1996 and July 29, 1995, respectively. The Company believes that additional sources of capital lease and other financing are available on a cost-effective basis and plans to use them, as necessary, in connection with its expansion program. The Company's primary long-term capital requirement is funding for the opening or acquisition of superstores and the conversion of traditional stores into superstores. During the twenty-six weeks ended August 3, 1996 and July 29, 1995, net proceeds of $78.6 million and $46.9 million, respectively, were obtained from public offerings of common stock to provide funds for the Company's expansion program, the acquisition of related businesses and for working capital requirements. The Company has a revolving credit facility with a commitment of up to $25.0 million that expires June 2, 1997. Borrowings under this facility are unsecured and bear interest, at the Company's option, at either the bank's reference rate or LIBOR plus 1.0%. The revolving credit facility contains certain affirmative and negative covenants related to working capital, net worth, leverage, profitability, capital expenditures and payment of cash dividends. As of February 3, 1996, the Company had available net operating loss carryforwards of $8.5 million for federal income tax purposes, which begin expiring in 2004, and $1.8 million for California income tax purposes, which begin expiring in 1996. The Company anticipates that available cash and cash equivalents as well as funds available under the revolving credit facility, funds generated by operations, currently available vendor financing, and capital lease and other financing will be sufficient to finance its continued operations and planned store openings for at the least the next twelve months. Certain Cautionary Statements Certain statements in this Quarterly Report on Form 10-Q that are not historical fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results of the Company to be materially different from historical results or from any results expressed or implied by such forward- looking statements. These factors are discussed under the caption "Certain Cautionary Statements" in the Company's Annual Report on Form 10-K for the year ended February 3, 1996. Part II. Other Information Item 4. Submission of Matters to a Vote of Security Holders (a) The Company held its Annual Meeting of Stockholders on June 26, 1996. (b) The matters voted upon at the meeting and the votes cast with respect thereto were as follows: 1. Election of directors. Nominee for Director Votes Cast For Votes Cast Against Votes Withheld Abstentions Broker Non-Votes Andrew G. Galef 11,205,794 228,182
2. Proposal to amend the Company's Amended and Restated Certificate of Incorporation to increase the Company's authorized common stock from 20,000,000 shares to 100,000,000 shares. Votes Cast For Votes Cast Against Votes Withheld Abstentions Broker Non-Votes 7,721,851 3,647,401 14,174
3. Proposal to amend the 1994 Stock Option and Restricted Stock plan for Executive and Key Employees of the Company (the "Company Plan") to increase the number of shares available for issuance under the Company Plan. Votes Cast For Votes Cast Against Votes Withheld Abstentions Broker Non-Votes 7,256,892 3,473,774 15,639
Item 6. Exhibits and Reports on Form 8-K 1. Exhibits (a) 27.1 Financial Data Schedule (filed electronically only) 2. Reports on Form 8-K (a) The Company filed no reports on Form 8-K during the thirteen weeks ended August 3, 1996. 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. PETCO ANIMAL SUPPLIES, INC. By: /s/ James M. Myers James M. Myers Senior Vice President Finance and Chief Accounting Officer Date: September 16, 1996 EX-27 2
5 THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM CONSOLIDATED BALANCE SHEETS AND CONSOLIDATED STATEMENTS OFOPERATIONS AND IS QUALIFIED IN ITS ENTIRITY BY REFERENCE TO SUCH FINANCIAL STATEMENTS Appendix A to Item 601(c) of Regulation S-K Commercial and Industrial Companies Article 5 of Registration S-X (in thousands except per share data) 1000 3-MOS FEB-03-1997 AUG-04-1996 52,232 0 4,526 0 54,699 112,450 71,610 0 236,628 45,647 0 0 0 2 169,224 236,628 103,571 103,571 76,729 76,729 37,454 0 (258) (10,354) (3,304) (7,050) 0 0 0 (7,050) (0.43) (0.43)
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