-----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, PCfKnCn+nXd1cL+71p4YUFpenPdXNIayRz/7wVBI+wejYdxN4hQ/3pYuzW0KYw4I KeTQ1TbNbOo6ZGk0aNGJ1w== 0000100320-99-000003.txt : 19990517 0000100320-99-000003.hdr.sgml : 19990517 ACCESSION NUMBER: 0000100320-99-000003 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990331 FILED AS OF DATE: 19990514 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CONSUMERS FINANCIAL CORP CENTRAL INDEX KEY: 0000100320 STANDARD INDUSTRIAL CLASSIFICATION: SURETY INSURANCE [6351] IRS NUMBER: 231666392 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 001-12455 FILM NUMBER: 99622261 BUSINESS ADDRESS: STREET 1: 1200 CAMP HILL BY PASS STREET 2: P O BOX26 CITY: CAMP HILL STATE: PA ZIP: 17001-0026 BUSINESS PHONE: 7177614230 MAIL ADDRESS: STREET 1: 1200 CAMP HILL BYPASS STREET 2: PO BOX 26 CITY: CAMP HILL STATE: PA ZIP: 17001-0026 FORMER COMPANY: FORMER CONFORMED NAME: TWENTIETH CENTURY CORP DATE OF NAME CHANGE: 19800620 10-Q 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 1999 COMMISSION FILE NUMBER: 0-2616 CONSUMERS FINANCIAL CORPORATION 1200 CAMP HILL BY-PASS CAMP HILL, PA 17011 PENNSYLVANIA 23-1666392 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 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 filing such requirements for the past 90 days. Yes XX No Indicate the number of shares outstanding of each of the issuer s classes of common stock, as of the latest practicable date. Outstanding at Class of Common Stock April 30, 1999 $.01 Stated Value 2,578,295 shares CONSUMERS FINANCIAL CORPORATION AND SUBSIDIARIES INDEX PAGE PART 1. FINANCIAL INFORMATION NUMBER Item 1. Financial Statements: Consolidated Statements of Net Assets in Liquidation - 3 March 31, 1999 and December 31, 1998 Consolidated Statement of Changes in Net Assets in Liquidation - 4 For the Three Months ended March 31, 1999 Consolidated Statement of Operations - 5 For the Period from January 1, 1998 to March 24, 1998 Consolidated Statement of Cash Flows - 6 For the Period from January 1, 1998 to March 24, 1998 Notes to Consolidated Financial Statements 7 - 13 Item 2. Management s Discussion and Analysis of Results of 14 -16 Operations and Financial Condition PART 2. OTHER INFORMATION Item 1. Legal Proceedings 17 Item 2. Changes in Securities 17 Item 3. Defaults upon Senior Securities 17 Item 4. Submission of Matters to a Vote of Security Holders 17 Item 5. Other Information 17 Item 6. Exhibits and Reports on Form 8-K 17 PART 1. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS CONSOLIDATED STATEMENTS OF NET ASSETS IN LIQUIDATION
MARCH 31, 1999 December 31, (in thousands) (UNAUDITED) 1998 Assets Investments: Fixed maturities $1,033 $1,043 Mortgage loans on real estate 1,582 1,600 Other invested assets 5 75 Short-term investments 1,608 1,732 Total investments 4,228 4,450 Cash 177 172 Accrued investment income 20 36 Receivables 21,866 21,590 Prepaid reinsurance premiums 33,313 34,840 Deferred policy acquisition costs 38 50 Property and equipment 1,006 1,018 Other real estate 184 187 Other assets 353 345 Total assets 61,185 62,688 Liabilities and Redeemable Preferred Stock Liabilities: Future policy benefits 17,501 17,645 Unearned premiums 33,641 35,163 Other policy claims and benefits payable 3,258 2,882 Other liabilities 1,760 1,800 56,160 57,490 Redeemable preferred stock: Series A, 8 1/2% cumulative convertible 4,815 4,815 Total liabilities and redeemable preferred stock 60,975 62,305 Net assets in liquidation $210 $383 /TABLE CONSOLIDATED STATEMENT OF CHANGES IN NET ASSETS IN LIQUIDATION FOR THE THREE MONTHS ENDED MARCH 31, 1999 (UNAUDITED)
(in thousands) Revenues: Earned premiums $111 Net investment income 74 Fees from sale of customer accounts 78 Joint venture fees 41 Miscellaneous 42 346 Benefits and expenses: Policyholder benefits 117 Rent and related costs 60 Salaries, wages and employee benefits 92 Professional fees 62 Taxes, licenses and fees 24 Miscellaneous 53 408 Loss before income tax benefit (62) Income tax benefit 3 Decrease in unrealized appreciation of debt securities (12) Preferred stock dividends (102) Decrease in net assets for the period (173) Net assets at beginning of period 383 Net assets at March 31, 1999 $210
(IN PROCESS OF LIQUIDATION) CONSOLIDATED STATEMENT OF OPERATIONS FOR THE PERIOD FROM JANUARY 1, 1998 TO MARCH 24, 1998 (UNAUDITED)
(in thousands, except per share data) Revenues: Premiums written ($4) Decrease in unearned premiums 87 Premium income 83 Net investment income 60 Net realized investment gains 24 Fees and other income 181 348 Benefits and expenses: Death and other benefits 83 Operating expenses 368 451 Loss from continuing operations before income tax benefit (103) Income tax benefit (15) Loss from continuing operations (88) Discontinued operations: Gain on disposal of discontinued businesses (net of income taxes) 112 Net income $24 Basic and diluted income (loss) per common share: Loss from continuing operations ($0.08) Discontinued operations 0.04 Net loss ($0.04) Weighted average number of shares outstanding 2,596 Cash dividends declared per common share NONE
(IN PROCESS OF LIQUIDATION) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD FROM JANUARY 1, 1998 TO MARCH 24, 1998 (UNAUDITED)
(in thousands) Cash flows from operating activities: Net income $24 Adjustments to reconcile net income to net cash provided by operating activities: Other amortization and depreciation 24 Change in amounts due reinsurers (142) Income taxes (15) Change in other receivables 1,497 Change in other liabilities (376) Other (434) Total adjustments 554 Net cash provided by operating activities 578 Cash flows from investing activities: Purchase of investments (3) Maturity of investments 1,000 Sale of investments 1,829 Net assets transferred in sale of credit insurance business (3,647) Net cash used in investing activities (821) Cash flows from financing activities: Cash dividends to shareholders (109) Net cash used in financing activities (109) Net decrease in cash (352) Cash at beginning of period 641 Cash at end of period $289
(IN PROCESS OF LIQUIDATION) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS THREE MONTHS ENDED MARCH 31, 1999 AND 1998 (UNAUDITED) 1. OVERVIEW AND BASIS OF ACCOUNTING: The operating losses incurred by the Company over the past five years have significantly reduced its net worth and liquidity position. As a result, in late 1997, the Company signed an agreement to sell its core credit insurance and related products business, which had been its only remaining business operation, following the sales in 1994 and 1997 of all of its universal life insurance business and the 1996 sale of its auto auction business. Settlement on the sale of the credit insurance business took place in May 1998. The Company s income or loss from operations now consists principally of (i) earned premium and related costs associated with a small, closed block of extended service contract business, (ii) fee revenues received from Life of the South Corporation (LOTS), a Georgia-based financial services holding company which acquired the Company s credit insurance customer accounts, (iii) investment income on remaining assets and (iv) corporate expenses. On March 24, 1998, the Company s shareholders approved a Plan of Liquidation and Dissolution, as discussed in Note 2 below. Accordingly, the Company adopted a liquidation basis of accounting for periods subsequent to March 24, 1998. Under the liquidation basis of accounting, assets are stated at their estimated net realizable values and liabilities are stated at their anticipated settlement amounts. Prior to March 25, 1998, the Company reported the results of its operations and its asset and liability amounts using accounting principles applicable to going concern entities. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. These financial statements should be read in conjunction with the financial statements and notes thereto included in the Company's 1998 Form 10-K. The changes in net assets for the three months ended March 31, 1999 are not necessarily indicative of the changes to be expected for the full year. 2. DISCONTINUED OPERATIONS AND PLAN OF LIQUIDATION: On December 30, 1997, the Company entered into an agreement with LOTS, pursuant to which the Company (i) sold its credit insurance and fee income accounts to LOTS effective October 1, 1997, (ii) sold its September 30, 1997 inforce block of credit insurance business to American Republic Insurance Company (American Republic), LOTS financial partner in the transaction, effective January 1, 1998 and (iii) sold one of its wholly-owned reinsurance subsidiaries to LOTS as of August 31, 1998. LOTS and the Company also agreed that, with respect to the Company s principal insurance subsidiary, new credit insurance business produced by that subsidiary s former customer accounts, which were transferred to LOTS, will continue to be written on the policy or certificate forms of the subsidiary until September 30, 1999, or an earlier date which may be agreed to by the parties. This premium and the related insurance risk are also being reinsured 100% to American Republic. The sale of the inforce block of business referred to in (ii) above was completed on May 13, 1998 after the required approvals of the Company s preferred and common shareholders and state insurance regulators in the states of Delaware and Ohio were received. The sale of the reinsurance subsidiary was approved by the insurance regulators in the State of Arizona in August 1998 and closing on the sale occurred in September 1998. The sale of the inforce block of business resulted in an after-tax loss of approximately $3,665,000, of which $3,919,000 was reflected in the Company s fourth quarter 1997 financial statements through a write-down of deferred policy acquisition costs. An offsetting gain on disposal of $254,000, which resulted from adjustments to certain estimates made in 1997, was included in the Company s 1998 financial statements. In addition to approving the sale of the inforce credit insurance business, at the Special Meeting of Shareholders held on March 24, 1998, the Company s shareholders also approved a Plan of Liquidation and Dissolution, pursuant to which the Company intends to liquidate its remaining assets, provide for all of its liabilities, redeem its preferred stock and distribute all remaining cash to its common shareholders. Pursuant to the terms of its agreement with LOTS, the Company is receiving payments from LOTS until September 30, 2002 based on the amount of credit insurance premiums produced by the customer accounts sold by the Company to LOTS. The Company may also receive a payment from a contingency fund established by the parties based on the claims experience on the inforce credit insurance business from October 1, 1997 to September 30, 2002. As a result, the final distribution to the Company s common shareholders will not be made until late in 2002 when the amounts due from LOTS have been received. The Company has made substantial personnel reductions during the past several years as a result of the discontinuation of its various businesses. As of May 14, 1999, the Company had three full-time employees and two part-time employees. During 1999, the Company intends to outsource most of the functions which will continue to be required. 3. INCOME TAXES: Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company's deferred tax liabilities and assets are as follows (in 000's):
March 31, December 31, 1999 1998 Deferred tax liabilities: Fixed maturities $4 $9 Deferred policy acquisition costs 13 17 Other 41 41 58 67 Deferred tax assets: Future policy benefits 66 64 Net operating loss carryforwards 2,182 2,175 Other 309 259 2,557 2,498 Valuation allowance for deferred tax assets (2,499) (2,431) 58 67 Net deferred tax asset $0 $0
Significant components of the provision for income taxes are as follows (in 000's):
Three Months Ended March 31, 1999 1998 Current: Federal ($18) State 2 Total current (16) Deferred 1 Income tax benefit for period prior to adoption of liquidation basis of accounting (15) Income tax benefit for period subsequent to adoption of liquidation basis of accounting: Current ($3) Deferred (3) Total income tax benefit ($3) ($15)
The reconciliation of the provision for income taxes and the amount which would have been provided at statutory rates is as follows (in 000's):
For the Period from January 1, 1998 to March 24, 1998 Loss from continuing operations before income tax benefit ($103) Income tax benefit at 34% statutory rate on pre-tax loss ($35) Dividends received deduction (4) State income taxes 2 Items not includable for tax purposes 79 Other, net (57) Actual income tax benefit ($15)
4. COMMITMENTS AND CONTINGENCIES: In 1989, the Company entered into an agreement for the lease of office space. The facility contains approximately 44,500 square feet of office space. The term of the lease is ten years with an option to renew for one additional term of five years. Until March 1994, monthly lease payments were $35,000. In March 1994, the Company exercised its option to acquire a 50% interest in this property at a price of $1,750,000. The Company continues to lease the portion of the building it does not own for $17,000 per month through July 1999, although the Company has subleased a portion of the office space which it does not otherwise occupy. The building lease is classified as an operating lease. The Company has no other significant leases. In connection with the cancellation of a joint venture agreement in 1996, the Company agreed to pay its former joint venture partner a pro rata share of the proceeds it receives from the sale of its credit insurance accounts. Accordingly, over the next three and one-half years, the Company will pay its former partner approximately 19% of any gross fee revenues received from LOTS for the sale of its customer accounts. Reinsured risks would give rise to liability to the insurance subsidiaries only in the event that the reinsuring company is unable to meet its obligations under the reinsurance agreements in force. In November 1997, the Company and a third party reinsurer were sued by a former general agency with whom the Company had a partnership agreement. The partnership agreement provided that the agency would market universal life insurance business for the Company, pursuant to specific criteria established by the Company, and would also be entitled to a share of the profits, if any, which arose from the business produced. The claimant is seeking monetary damages to compensate it for the Company s alleged failure to share profits and for other alleged losses resulting from the Company s rejection of policy applications involving unacceptable risks. While management believes this claim is completely without merit and intends to vigorously defend itself in this matter, the ultimate outcome of this claim cannot be determined at this time. The Company has filed two counterclaims against this agency seeking damages for losses the Company sustained as a result of the agency s alleged breach of the partnership agreement and to recover an unpaid loan made to the agency. Certain claims, suits and complaints arising in the ordinary course of business have been filed or are pending against the Company or its subsidiaries. In the opinion of management, based on opinions of legal counsel, adequate reserves, if deemed necessary, have been established for these matters and their outcome will not result in a significant effect on the financial condition or future operating results of the Company or its subsidiaries. The Company has taken certain income tax positions in previous years that it believes are appropriate. If such positions were to be successfully challenged by the Internal Revenue Service, the Company could incur additional income taxes as well as interest and penalties. Management believes that the ultimate outcome of any such challenges will not have a material effect on the Company s financial statements. 5. PER SHARE INFORMATION: The following table sets forth the computation of basic and diluted per share data for the period prior to the adoption of the liquidation basis of accounting.
For the Period from (in thousands, except per share amounts) January 1, 1998 to March 24, 1998 Loss from continuing operations ($88) Preferred stock dividends (109) Accretion of carrying value of preferred stock (9) Numerator for basic loss per share - loss attributable to common shareholders (206) Effect of dilutive securities 0 Numerator for diluted loss per share ($206) Denominator for basic loss per share - weighted average shares 2,596 Effect of dilutive securities 0 Denominator for diluted loss per share 2,596 Basic and diluted loss per common share ($0.08)
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION A review of the significant factors which affected the Company s net assets in liquidation at March 31, 1999 and the changes in its net assets in liquidation for the three months ended March 31, 1999 is presented below. This analysis should be read in conjunction with the Consolidated Financial Statements and the related Notes appearing elsewhere in this Form 10-Q and in the Company s 1998 Form 10-K. OVERVIEW The Company s shareholders approved a Plan of Liquidation and Dissolution at a Special Meeting held on March 24, 1998. Accordingly, the Company adopted a liquidation basis of accounting in its financial statements for periods subsequent to March 24, 1998. Under liquidation accounting rules, assets are stated at their estimated net realizable values and liabilities are stated at their anticipated settlement amounts. Prior to March 25, the Company reported the results of its operations and its asset and liability amounts using accounting principles applicable to going concern entities. The agreement with the purchaser of the Company s credit insurance business provides that the proceeds from the sale of the customer accounts are to be received over a five-year period ending September 2002, based on the amount of credit insurance premiums produced by those customer accounts during that period. The Company may also receive a payment from a contingency fund established by the Company and the purchaser based on the claims experience on the inforce credit insurance business from October 1, 1997 to September 30, 2002. Because of these future payments and potential future payments, the distribution, if any, to the Company s common shareholders will not be made until late in 2002, when all amounts due from the purchaser have been received. The Company has made substantial reductions in its number of employees during the past several years as a result of the discontinuation of its various businesses. As of May 14, 1999, three people are employed on a full-time basis by the Company. During the liquidation period, the Company intends to out source most of the functions which will continue to be required. The Company s net assets in liquidation declined during the first quarter of 1999 from $383,000 to $210,000 due to preferred shareholder dividends totalling $102,000 and an excess of expenses over income of $62,000. Expenses for the period included $47,000 in accounting and actuarial fees incurred in connection with the Company s year end 1998 financial reporting. In addition, the fees which the Company receives from the sale of its customer accounts were lower in the first quarter than the levels expected in the remaining quarters of the year. In the first quarter of 1998, prior to the adoption of the liquidation basis of accounting, the Company s net income was $24,000, which included a $112,000 gain representing an adjustment to the $3,100,000 loss reported in 1997 from the disposal of the Company s credit insurance business. RESULTS OF OPERATIONS AND CHANGES IN NET ASSETS As a result of the sale of its remaining insurance business and the adoption of the Plan of Liquidation, the Company s income and expenses now consist principally of (i) fee income from the sale of the Company s customer accounts, (ii) investment income on existing assets and (iii) corporate expenses, primarily salaries, professional fees and home office and related real estate costs. A discussion of the material factors which affected the changes in net assets in liquidation for the three months ended March 31, 1999 and its results of operations for the period from January 1, 1998 to March 24, 1998 is presented below. For the first quarter of 1999, the Company s expenses exceeded its income by $62,000. The Company incurred approximately $47,000 in accounting and actuarial fees related to its year end 1998 financial reporting requirements which will generally not recur during the remaining quarters of 1999. In addition, fees received from the sale of the credit insurance customer accounts were lower in the first quarter than the levels expected in the remaining quarters of the year. Since the fees are based on the amount of premiums produced by the customer accounts which were transferred and because credit insurance premium production is typically lower in the first quarter of the year, the fees were predictably smaller. Rent and related costs, which totaled $60,000 in the first quarter, will decline significantly beginning in the third quarter of 1999 when the Company s lease on one-half of its home office building expires. Net assets also decreased as a result of the $102,000 quarterly dividend payment to the Company s preferred shareholders. ESTIMATED NET EXPENSES DURING LIQUIDATION PERIOD As indicated above, the liquidation of the Company is expected to continue for approximately three and one-half more years until all fee payments and other potential distributions are received from the purchaser of the credit insurance business. During this period, certain corporate expenses will continue to be incurred and investment income will continue to be earned on existing invested funds. The Board of Directors may determine during this period that the amount of funds available for ultimate distribution to shareholders may be increased by transferring all of the Company s remaining net assets into a liquidating trust, in which case the trustees of such trust would be responsible for liquidating all remaining assets, paying all liabilities and making any distributions to the preferred and common shareholders. Based on current estimates, which exclude the potential savings, if any, from the use of a liquidating trust, the Company believes that its future operating expenses and other costs, including preferred stock dividends, will exceed fee income and other revenues during the liquidating period by approximately $100,000 to $200,000. Actual income and expenses could vary significantly from the present estimates due to uncertainties as to when certain assets will be liquidated, when the preferred stock will be redeemed, the level of actual expenses which will be incurred and the ultimate resolution of various contingencies which may arise. FINANCIAL CONDITION The Company s net assets in liquidation were $383,000 at the beginning of 1999 compared to $210,000 at March 31, 1999. Net assets declined primarily as a result of the $62,000 excess of expenses over income discussed above and the $102,000 quarterly dividend on preferred stock. The Company s total invested assets (consisting of bonds, mortgage loans and short-term investments) decreased from $4,450,000 to $4,228,000 during the first quarter of 1999. The reduction is attributable to the excess of expenses over income and the preferred dividends referred to above and to the payment of certain liabilities. YEAR 2000 COMPLIANCE Because the Company is no longer conducting any business operations and is in the process of liquidating its remaining assets, it is therefore relying, both directly and indirectly, on fewer computer systems than in the past to maintain all of its financial and other records and to file all required financial reports with state insurance departments and other regulators. In fulfilling its continuing, although limited, responsibilities, the Company directly utilizes only two computer systems, one for its general ledger accounting and one for maintenance of its shareholder records (since the Company continues to perform its own stock transfer agent functions). The Company has received written assurances from both software vendors that their respective systems have been tested and will operate problem free during and after the year 2000. The Company also receives certain computer generated information from the purchaser of its credit insurance business, and has obtained a year 2000 certification from the purchaser stating that all of its hardware and software systems have been tested and are year 2000 compliant. Based on the above, management does not believe that its very limited operations will be adversely impacted by year 2000 computer problems. PART 2. OTHER INFORMATION ITEM 1. LEGAL PROCEEDINGS Except for the matters discussed in Note 4 of the Notes to Consolidated Financial Statements included elsewhere in this Form 10-Q, neither the registrant nor its subsidiaries are involved in any pending legal proceedings other than routine litigation incidental to the normal conduct of its business nor have any such proceedings been terminated during the three months ended March 31, 1999. ITEM 2. CHANGES IN SECURITIES During the three months ended March 31, 1999, there have been no limitations or qualifications, through charter documents, loan agreements or otherwise, placed upon the holders of the registrant's common or preferred stock to receive dividends. ITEM 3. DEFAULTS UPON SENIOR SECURITIES The registrant has not defaulted in the payment of principal, interest or in any other manner on any indebtedness and is current with all its accounts. There is no arrearage in the payment of dividends on the registrant's preferred stock. ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS No matters were submitted to a vote of the stockholders of the registrant during the three months ended March 31, 1999. ITEM 5. OTHER INFORMATION None ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K (a) Exhibits required to be filed by Item 601 of Regulation S-K: None (b) No reports on Form 8-K were filed by the Company during the three months ended March 31, 1999. 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. CONSUMERS FINANCIAL CORPORATION Registrant Date May 14, 1999 By /S/ James C. Robertson, President (Chief Executive Officer) Date May 14, 1999 By /S/ R. Fredric Zullinger Senior Vice President, Chief Financial Officer and Treasurer EX-27 2
7 3-MOS 3-MOS YEAR MAR-31-1999 MAR-31-1998 DEC-31-1998 MAR-31-1999 MAR-31-1998 DEC-31-1998 1,032,593 0 1,042,900 0 0 0 0 0 0 0 0 0 1,582,322 0 1,600,283 0 0 0 4,227,888 0 4,449,872 176,933 0 171,822 33,312,862 0 34,840,247 37,500 0 50,000 61,184,764 0 62,687,602 17,500,926 0 17,644,637 33,640,989 0 35,162,710 3,258,041 0 2,882,411 1,760,709 0 1,800,639 0 0 0 0 0 0 4,814,610 0 4,814,610 29,438 0 29,438 180,151 0 353,157 61,184,764 0 62,687,602 449,654 0 3,003,103 74,473 111,997 962,490 0 23,510 (102,128) 369,779 181,382 1,312,104 566,136 0 2,630,017 44,778 0 24,837 345,000 420,227 2,400,426 (62,008) (103,338) 120,289 (2,952) (15,106) 511,794 0 0 0 0 0 0 (59,056) (88,232) (391,505) 0 0 0 (59,056) 24,420 (177,719) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
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