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			&lt;p style="margin:6pt 0pt 0pt 24.45pt; page-break-after:avoid"&gt;&lt;font style="font-family:Arial; font-size:10pt; font-style:italic"&gt;Organization &lt;/font&gt;&lt;/p&gt;
			&lt;p style="margin:6pt 0pt 0pt; text-indent:24.5pt"&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;Access Midstream Partners, L.P. (the &amp;#8220;Partnership&amp;#8221;), a Delaware limited partnership formed in January 2010, is principally focused on natural gas gathering, the first segment of midstream energy infrastructure that connects natural gas produced at the wellhead to third-party takeaway pipelines. The Partnership is the industry&amp;#8217;s largest gathering and processing master limited partnership as measured by throughput volume. The Partnership&amp;#8217;s assets are located in Arkansas, Kansas, Louisiana, Maryland, New York, Ohio, Oklahoma, Pennsylvania, Texas, Virginia, West Virginia and Wyoming. The Partnership provides gathering, treating and compression services to Chesapeake Energy Corporation (&amp;#8220;Chesapeake&amp;#8221;), Total Gas and Power North America, Inc. (&amp;#8220;Total&amp;#8221;), Statoil ASA (&amp;#8220;Statoil&amp;#8221;), Anadarko Petroleum Corporation (&amp;#8220;Anadarko&amp;#8221;), Mitsui&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;&amp;amp; Co., Ltd. (&amp;#8220;Mitsui&amp;#8221;) and other producers under long-term, fixed-fee contracts. &lt;/font&gt;&lt;/p&gt;
			&lt;p style="margin:12pt 0pt 0pt; text-indent:24.5pt"&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;For purposes of these financial statements, the &amp;#8220;GIP I Entities&amp;#8221; refers to, collectively, GIP-A Holding (CHK), L.P., GIP-B Holding (CHK), L.P. and GIP-C Holding (CHK), L.P., the &amp;#8220;GIP II Entities&amp;#8221; refers to certain entities affiliated with Global Infrastructure Investors II, LLC, and &amp;#8220;GIP&amp;#8221; refers to the GIP I Entities and their affiliates and the GIP II Entities, collectively. &amp;#8220;Williams&amp;#8221; refers to The Williams Companies, Inc. (NYSE: WMB). &lt;/font&gt;&lt;/p&gt;
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			&lt;p style="margin:18pt 0pt 0pt 24.45pt; page-break-after:avoid"&gt;&lt;font style="font-family:Arial; font-size:10pt; font-style:italic"&gt;Acquisition &lt;/font&gt;&lt;/p&gt;
			&lt;p style="margin:6pt 0pt 0pt; text-indent:24.5pt"&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;On December&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;20, 2012, the Partnership acquired from Chesapeake Midstream Development, L.P. (&amp;#8220;CMD&amp;#8221;), a wholly owned subsidiary of Chesapeake, and certain of CMD&amp;#8217;s affiliates, &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;100&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; percent of the issued and outstanding equity interests in Chesapeake Midstream Operating, L.L.C. (&amp;#8220;CMO&amp;#8221;) for total consideration of $&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;2.16&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; billion (the &amp;#8220;CMO Acquisition&amp;#8221;). As a result of the CMO Acquisition, the Partnership now owns certain midstream assets in the Eagle Ford, Utica and Niobrara regions. The CMO Acquisition also extended the Partnership&amp;#8217;s assets and operations in the Haynesville, Marcellus and Mid-Continent regions. The acquired assets included, in the aggregate, approximately &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;1,675&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; miles of pipeline and &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;4.3&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;million (gross) dedicated acres as of the date of the acquisition. The Partnership also assumed various gas gathering and processing agreements associated with the assets that have terms ranging from &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;10&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; to &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;20&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; years and that, in certain cases, include cost of service or fee redetermination mechanisms. &lt;/font&gt;&lt;/p&gt;
			&lt;p style="margin:12pt 0pt 0pt; text-indent:24.5pt"&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;Concurrently with the CMO Acquisition, the GIP I Entities sold to Williams &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;34,538,061&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; of the Partnership&amp;#8217;s subordinated units and &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;50&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;% of the outstanding equity interests in Access Midstream Ventures, L.L.C., the sole member of the Partnership&amp;#8217;s general partner, for cash consideration of approximately $&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;1.8&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; billion (the &amp;#8220;Williams Acquisition&amp;#8221;). The Partnership did not receive any cash proceeds from the Williams Acquisition. As a result of the closing of the Williams Acquisition, the GIP II Entities and Williams together own and control the Partnership&amp;#8217;s general partner and the GIP I Entities no longer have any ownership interest in the Partnership or its general partner. &lt;/font&gt;&lt;/p&gt;
			&lt;p style="margin:18pt 0pt 0pt 24.45pt; page-break-after:avoid"&gt;&lt;font style="font-family:Arial; font-size:10pt; font-style:italic"&gt;Equity Issuance &lt;/font&gt;&lt;/p&gt;
			&lt;p style="margin:6pt 0pt 0pt; text-indent:24.5pt"&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;On April&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;2, 2013, the Partnership completed an equity offering of &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;10.35&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;million common units, including &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;1.35&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;million common units issued pursuant to the underwriters&amp;#8217; exercise of their option to purchase additional common units, at a price of $&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;39.86&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; per common unit. The Partnership received offering proceeds (net of underwriting discounts and commissions) of $&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;400.1&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; million from the equity offering, including proceeds from the underwriters&amp;#8217; exercise of their option to purchase additional common units and an approximate $&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;8.4&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; million capital contribution from the Partnership&amp;#8217;s general partner to maintain its &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;two&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; percent general partner interest. The proceeds were used for general partnership purposes, including repayment of amounts outstanding under the Partnership&amp;#8217;s revolving credit facility. &lt;/font&gt;&lt;/p&gt;
			&lt;p style="margin:12pt 0pt 0pt; text-indent:24.5pt"&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;On December&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;18, 2012, the Partnership completed an equity offering of &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;18.4&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;million common units, including &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;2.4&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;million common units issued pursuant to the exercise of the underwriters&amp;#8217; option to purchase additional common units, at a price of $&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;32.15&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; per common unit. The Partnership received offering proceeds (net of underwriting discounts, commissions and offering expenses) of approximately $&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;569.3&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; million from the equity offering, including proceeds from the underwriters&amp;#8217; exercise of their option to purchase additional common units. The Partnership used the net proceeds to pay a portion of the purchase price for the CMO Acquisition. &lt;/font&gt;&lt;/p&gt;
			&lt;p style="margin:18pt 0pt 0pt 24.45pt; page-break-after:avoid"&gt;&lt;font style="font-family:Arial; font-size:10pt; font-style:italic"&gt;Subscription Agreement &lt;/font&gt;&lt;/p&gt;
			&lt;p style="margin:6pt 0pt 0pt; text-indent:24.5pt"&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;On December&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;20, 2012, the Partnership sold &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;5.9&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;million Class B units to each of the GIP II Entities and Williams and &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;5.6&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;million Class C units to each of the GIP II Entities and Williams, in each case pursuant to the subscription agreement. The Partnership received aggregate proceeds of approximately $&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;712.1&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; million in exchange for the sale of Class B units and Class C units, inclusive of the capital contribution made by the general partner to maintain its &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;two&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; percent interest in the Partnership&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; following the issuance of common, Class B and Class C units&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;. &lt;/font&gt;&lt;/p&gt;
		&lt;/div&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Disclosure of accounting policy for completed business combinations (purchase method, acquisition method or combination of entities under common control). This accounting policy may include a general discussion of the purchase method or acquisition method of accounting (including for example, the treatment accorded contingent consideration, the identification of assets and liabilities, the purchase price allocation process, how the fair values of acquired assets and liabilities are determined) and the entity's specific application thereof. An entity that acquires another entity in a leveraged buyout transaction generally discloses the accounting policy followed by the acquiring entity in determining the basis used to value its interest in the acquired entity, and the rationale for that accounting policy.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef

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			&lt;p style="margin:18pt 0pt 0pt 24.45pt; page-break-after:avoid"&gt;&lt;font style="font-family:Arial; font-size:10pt; font-style:italic"&gt;Holdings of Partnership Capital &lt;/font&gt;&lt;/p&gt;
			&lt;p style="margin:6pt 0pt 0pt; text-indent:24.5pt"&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;At June&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;30, 2013, the GIP II Entities held &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;2,042,458&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; notional general partner units representing a &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;1.0&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; percent general partner interest in the Partnership, &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;50.0&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; percent of the Partnership&amp;#8217;s incentive distribution rights, &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;33,704,666&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; common units, &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;34,538,061&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; subordinated units, &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;6,080,365&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; Class B units and &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;5,599,634&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; Class C units. The GIP II Entities&amp;#8217; ownership represents an aggregate &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;39.1&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; percent limited partner interest in the Partnership. Williams held &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;2,042,458&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; notional general partner units representing a &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;1.0&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; percent general partner interest in the Partnership, &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;50.0&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; percent of the Partnership&amp;#8217;s incentive distribution rights, &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;34,538,061&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; subordinated units, &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;6,080,365&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; Class B units and &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;5,599,634&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; Class C units. Williams ownership represents an aggregate &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;22.6&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; percent limited partner interest in the Partnership. The public held &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;74,020,115&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; common units, representing a &lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt; "&gt;36.3&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt; percent limited partner interest in the Partnership. &lt;/font&gt;&lt;/p&gt;
		&lt;/div&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Disclosure of accounting policy for interest in an unincorporated joint venture or partnership that is included in the enterprise's financial statements using the proportionate consolidation method of accounting.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef

 -Publisher FASB

 -Name Accounting Standards Codification

 -Topic 235

 -SubTopic 10

 -Section 50

 -Paragraph 3

 -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790



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

 -Publisher FASB

 -Name Accounting Standards Codification

 -Topic 932

 -SubTopic 323

 -URI http://asc.fasb.org/subtopic&amp;trid=2145602



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

 -Publisher FASB

 -Name Statement of Financial Accounting Standard (FAS)

 -Number 19

 -Paragraph 59I

 -Subparagraph b

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



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			&lt;p style="margin:18pt 0pt 0pt 24.45pt; page-break-after:avoid"&gt;&lt;font style="font-family:Arial; font-size:10pt; font-style:italic"&gt;Basis of Presentation &lt;/font&gt;&lt;/p&gt;
			&lt;p style="margin:6pt 0pt 0pt; text-indent:24.5pt"&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;The accompanying financial statements and related notes present the unaudited condensed consolidated balance sheets of the Partnership as of June&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;30, 2013 and December&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;31, 2012. They also include the unaudited condensed consolidated statements of operations for the three and six-month periods ended June&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;30, 2013 and 2012, the unaudited condensed consolidated statements of cash flows for the Partnership for the six-month periods ended June&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;30, 2013 and 2012, and the unaudited changes in partners&amp;#8217; capital of the Partnership for the six-month period ended June&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;30, 2013. &lt;/font&gt;&lt;/p&gt;
			&lt;p style="margin:12pt 0pt 0pt; text-indent:24.5pt"&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;The accompanying condensed consolidated financial statements were prepared using accounting principles generally accepted in the United States (&amp;#8220;GAAP&amp;#8221;) for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission (&amp;#8220;SEC&amp;#8221;). In the opinion of management, the interim data includes all adjustments, consisting only of normal recurring adjustments, necessary to a fair statement of the results for the interim periods. Certain footnote disclosures normally included in the financial statements prepared in accordance with GAAP have been appropriately condensed or omitted in this quarterly report on Form 10-Q (this &amp;#8220;Form 10-Q&amp;#8221;). Management believes the disclosures made are adequate to make the information presented not misleading. This Form 10-Q should be read together with the Partnership&amp;#8217;s annual report on Form 10-K for the year ended December&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;31, 2012. &lt;/font&gt;&lt;/p&gt;
			&lt;p style="margin:12pt 0pt 0pt; text-indent:24.5pt"&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;The results of operations for the six-month period ended June&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;30, 2013, are not indicative of results that may be expected for the full fiscal year. &lt;/font&gt;&lt;/p&gt;
			&lt;p style="margin:12pt 0pt 0pt; text-indent:24.5pt"&gt;&lt;font style="font-family:Arial; font-size:10pt"&gt;Certain reclassifications have been made to prior period amounts to conform to the current period financial statement presentation. &lt;/font&gt;&lt;/p&gt;
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