-----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, M8EvaiF2umuJEqj8YkVLbkkWnfiZyNgIxN9aKJWyQf8YBtfBVq4t8KgFP8o5ukyc /FieMnL6SqgteSv5HWVY9w== 0000899243-98-000162.txt : 19980211 0000899243-98-000162.hdr.sgml : 19980211 ACCESSION NUMBER: 0000899243-98-000162 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 19971227 FILED AS OF DATE: 19980210 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: KENT ELECTRONICS CORP CENTRAL INDEX KEY: 0000793024 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-ELECTRONIC PARTS & EQUIPMENT, NEC [5065] IRS NUMBER: 741763541 STATE OF INCORPORATION: TX FISCAL YEAR END: 0328 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 001-09520 FILM NUMBER: 98528507 BUSINESS ADDRESS: STREET 1: 7433 HARWIN DR CITY: HOUSTON STATE: TX ZIP: 77036-2015 BUSINESS PHONE: 7137807770 MAIL ADDRESS: STREET 1: 7433 HARWIN DRIVE CITY: HOUSTON STATE: TX ZIP: 77036-2015 10-Q 1 FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 27, 1997 ----------------- 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 0-14643 -------- KENT ELECTRONICS CORPORATION - -------------------------------------------------------------------------------- Exact name of registrant as specified in its charter) Texas 74-1763541 - -------------------------------------------------------------------------------- (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 1111 Gillingham Lane, Sugar Land, Texas 77478 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (281) 243-4000 -------------- - -------------------------------------------------------------------------------- Former name, former address and former fiscal year, if changed since last report. 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 issuer's classes of common stock, as of the latest practicable date. At February 6, 1998, 27,169,640 shares of common stock, no par value, were outstanding. KENT ELECTRONICS CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands) December 27, March 29, 1997 1997 ------------- ---------- (Unaudited) ASSETS CURRENT ASSETS Cash and cash equivalents (including temporary investments of $183,460 at December 27 and $28,728 at March 29)...................... $180,599 $ 25,050 Trading securities, net......................... 29,916 -- Accounts receivable, less allowance of $1,551 at December 27 and $1,256 at March 29......... 123,171 88,835 Inventories Materials and purchased products.............. 107,543 91,100 Work in process............................... 2,715 3,394 -------- -------- 110,258 94,494 Other........................................... 4,715 4,023 -------- -------- Total current assets........................ 448,659 212,402 PROPERTY AND EQUIPMENT Land............................................ 7,439 7,439 Buildings....................................... 42,307 38,176 Equipment, furniture and fixtures............... 100,366 68,247 Leasehold improvements.......................... 2,615 2,543 -------- -------- 152,727 116,405 Less accumulated depreciation and amortization (33,513) (25,515) -------- -------- 119,214 90,890 DEFERRED INCOME TAXES................................ 1,205 1,280 OTHER ASSETS......................................... 11,811 4,618 COST IN EXCESS OF NET ASSETS ACQUIRED, less accumulated amortization of $2,741 at December 27 and $2,359 at March 29.............. 16,022 16,404 -------- -------- $596,911 $325,594 ======== ======== The accompanying notes are an integral part of these statements. Page 2 of 15 KENT ELECTRONICS CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands, except per share data) December 27, March 29, 1997 1997 ------------- ---------- (Unaudited) LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable............................... $ 61,550 $ 42,317 Accrued compensation........................... 10,520 8,123 Other accrued liabilities...................... 11,745 8,051 Income taxes................................... 682 3,027 -------- -------- Total current liabilities.................. 84,497 61,518 LONG-TERM DEBT...................................... 207,000 --- LONG-TERM LIABILITIES............................... 2,254 1,709 STOCKHOLDERS' EQUITY Preferred stock, $1 par value per share; authorized 2,000 shares; none issued......... --- --- Common stock, no par value; authorized 60,000 shares; 26,842 shares issued and 26,792 shares outstanding at December 27 and 26,302 shares issued and 26,252 shares outstanding at March 29...................... 53,273 41,348 Additional paid-in capital..................... 116,882 116,522 Retained earnings.............................. 133,982 105,474 -------- -------- 304,137 263,344 Less common stock in treasury - at cost, 50 shares.................................... (977) (977) -------- -------- 303,160 262,367 -------- -------- $596,911 $325,594 ======== ======== The accompanying notes are an integral part of these statements. Page 3 of 15 KENT ELECTRONICS CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited - In thousands, except per share data)
Thirteen Weeks Ended Thirty-Nine Weeks Ended --------------------------- ---------------------------- December 27, December 28, December 27, December 28, 1997 1996 1997 1996 ------------ ------------ ------------ ------------ Net sales.................................... $177,426 $126,407 $496,993 $375,585 Cost of sales................................ 137,276 97,567 384,076 286,821 -------- -------- -------- -------- Gross profit............................ 40,150 28,840 112,917 88,764 Selling, general and administrative expenses. 23,875 18,326 67,087 53,873 -------- -------- -------- -------- Operating profit........................ 16,275 10,514 45,830 34,891 Other income (expense) Interest expense........................ (2,559) (414) (2,697) (1,080) Other - net............................. 3,032 1,175 3,987 4,013 -------- -------- -------- -------- Earnings before income taxes....... 16,748 11,275 47,120 37,824 Income taxes................................. 6,620 4,338 18,612 14,604 -------- -------- -------- -------- NET EARNINGS....................... $ 10,128 $ 6,937 $ 28,508 $ 23,220 ======== ======== ======== ======== Earnings per common share Basic................................... $.38 $.27 $1.08 $.92 ==== ==== ===== ==== Diluted................................. $.36 $.25 $1.01 $.85 ==== ==== ===== ==== Weighted average shares Basic................................... 26,664 25,381 26,450 25,377 ======== ======== ======== ======== Diluted................................. 28,374 27,538 28,145 27,477 ======== ======== ======== ========
The accompanying notes are in integral part of these statements. Page 4 of 15 KENT ELECTRONICS CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited - In thousands)
Thirty-Nine Weeks Ended --------------------------- December 27, December 28, 1997 1996 ------------ ------------ CASH FLOWS FROM OPERATING ACTIVITIES Net earnings............................................ $ 28,508 $ 23,220 Adjustments to reconcile net earnings to net cash provided by operating activities Depreciation and amortization....................... 8,387 5,223 Provision for losses on accounts receivable......... 295 330 Loss on sale of property and equipment.............. 4 4 Stock option expense................................ 360 415 Unrealized losses (gains) on trading securities........................................ 84 (50) Net (purchases) sales of trading securities......... (30,000) 11,795 Change in assets and liabilities, net of effects from the acquisition accounted for as a purchase in fiscal 1997 Increase in accounts receivable.............. (34,631) (18,779) Increase in inventories...................... (15,764) (11,244) Increase in other............................ (692) (1,304) Decrease in deferred income taxes............ 75 180 Increase in other assets..................... (7,193) (2,552) Increase in accounts payable................. 19,233 82 Increase (decrease) in accrued compensation 2,397 (3,798) Increase in other accrued liabilities........ 3,694 2,548 Decrease in income taxes..................... (2,345) (1,514) Increase in long-term liabilities............ 545 620 -------- -------- Total adjustments........................... (55,551) (18,044) -------- -------- Net cash (used) provided by operating activities................................ (27,043) 5,176
(Continued) Page 5 of 15 KENT ELECTRONICS CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited - In thousands)
Thirty-Nine Weeks Ended ---------------------------- December 27, December 28, 1997 1996 ------------- ------------- CASH FLOWS FROM INVESTING ACTIVITIES Capital expenditures............................... $(36,338) $(40,113) Acquisition accounted for as a purchase............ --- (7,000) Proceeds from sale of property and equipment....... 5 2 -------- -------- Net cash used by investing activities........ (36,333) (47,111) CASH FLOWS FROM FINANCING ACTIVITIES Net borrowings under line of credit agreements of pooled companies................................. --- 7,140 Increase (decrease) in long-term debt.............. 207,000 (11) Issuance of common stock........................... 4,707 489 Purchase of treasury stock......................... --- (977) Tax effect of common stock issued upon exercise of employee stock options........................ 7,218 1,637 Distribution to shareholder of pooled companies.... --- (599) -------- -------- Net cash provided by financing activities. 218,925 7,679 -------- -------- NET INCREASE (DECREASE) IN CASH......................... 155,549 (34,256) Adjustment for change in pooled companies' fiscal year-ends................................. -- 344 CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD........ 25,050 73,431 -------- -------- CASH AND CASH EQUIVALENTS AT END OF PERIOD.............. $180,599 $ 39,519 ======== ======== SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: Cash paid during the year for Interest......................................... $ --- $ 1,061 Income taxes....................................... $ 13,857 $ 14,280
The accompanying notes are an integral part of these statements. Page 6 of 15 KENT ELECTRONICS CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Accounting Policies - ------------------- The consolidated balance sheet as of December 27, 1997, and the consolidated statements of earnings and cash flows for the thirteen and thirty-nine week periods ended December 27, 1997 and December 28, 1996, have been prepared by the Company without audit. In the opinion of management, the financial statements include all adjustments necessary for a fair presentation. All adjustments made were of a normal recurring nature. Interim results are not necessarily indications of results for a full year. For further financial information, refer to the audited financial statements of the Company and notes thereto for the fiscal year ended March 29, 1997, included in the Company's Form 10-K/A for that period. Business Acquisitions - --------------------- In January 1997, the Company acquired Futronix Corporation and Wire & Cable Specialties Corporation ("Wire & Cable") in transactions that were each accounted for as a pooling of interests. Accordingly, the fiscal 1997 consolidated statements of earnings and cash flows have been restated to include the operations of Futronix Corporation and Wire & Cable. In December 1996, during the third quarter of fiscal 1997, the Company acquired the assets and disclosed liabilities of the EMC Distribution Division of Electronics Marketing Corporation in a transaction accounted for as a purchase. Cash and Cash Equivalents - ------------------------- Temporary investments may be greater than the cash and cash equivalents balance because they may be offset by individual bank accounts with a book overdraft position within the same bank where multiple accounts are maintained. Page 7 of 15 Trading Securities - ------------------ The Company has classified all investment securities as trading securities which are measured at fair value in the financial statements with unrealized gains and losses included in earnings. Trading securities of $29.9 million at December 27, 1997 were invested in a managed fund consisting primarily of taxable, high quality corporate debt instruments. Convertible Subordinated Notes due 2004 - --------------------------------------- On September 23, 1997, the Company issued $180 million of 4.5% Convertible Subordinated Notes due 2004 (the "Notes") in a public offering. On October 2, 1997, an additional $27 million of Notes were issued pursuant to the exercise of the Underwriters' over-allotment option. The Notes are convertible into Kent common stock at a conversion price of $49.53 per share, subject to adjustment in certain events. Interest is payable semiannually and the Notes are redeemable at the option of the Company at set redemption prices, plus accrued interest, beginning September 6, 2000. Sales To Major Customers - ------------------------ No customer of the Company represented 10% or more of net sales for the thirteen week period ending December 27, 1997. For the thirty-nine week period ended December 27, 1997, sales to Compaq Computer Corporation represented 10.1% of net sales. For the thirteen and thirty-nine week periods ending December 28, 1996, sales to Compaq represented 10.7% and 10.2% of net sales, respectively. Earnings Per Share - ------------------ The Company has adopted Financial Accounting Standard No. 128, "Earnings Per Share". The new standard eliminates primary and fully diluted earnings per share and requires presentation of basic and diluted earnings per share. In accordance with the new statement, all prior period comparative amounts have been restated. Page 8 of 15 The weighted average number of shares used for computing diluted earnings per share does not assume conversion of the Notes because of their antidilutive effect on earnings per share for the thirteen and thirty-nine week periods ending December 27, 1997. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Results of Operations - --------------------- Net sales for the thirteen and thirty-nine weeks ended December 27, 1997 increased $51.0 million, or 40.4%, and $121.4 million, or 32.3%, compared to the same periods a year ago. Distribution sales increased approximately 28% and 27% from the prior year thirteen and thirty-nine week periods, respectively. Contract manufacturing sales increased approximately 65% and 43% from the prior year thirteen and thirty-nine week periods, respectively. The sales increase reflected strong internal growth and was primarily driven by increased demand from existing customers and an expanded customer base in both the distribution and contract manufacturing businesses. The contract manufacturing business also benefited from increased demand of its expanded services as compared to both prior year periods. Gross profit increased $11.3 million, or 39.2%, for the thirteen weeks and increased $24.2 million, or 27.2%, for the thirty-nine weeks when compared to the corresponding periods a year ago. Gross profit as a percentage of sales for the thirteen weeks was 22.6%, slightly less than the 22.8% in the corresponding period of the previous year. For the thirty-nine week period, gross profit as a percentage of sales decreased to 22.7%, compared to 23.6% a year ago. The increase in gross profit was primarily due to increased sales, offset by a decrease in the gross profit percentage in the thirteen and thirty-nine week periods. The decrease in gross profit as a percentage of sales resulted from pricing pressures and a product mix with a lower percentage of certain higher margin contract manufacturing business. Page 9 of 15 Selling, general and administrative ("SG&A") expenses declined as a percentage of sales to 13.5% from 14.5% for the thirteen weeks and to 13.5% from 14.3% for the thirty-nine weeks compared to the corresponding prior year periods. The decline as a percentage of sales reflects the Company's continued focus on cost containment to reduce such expenses as a percentage of sales. SG&A expenses increased $5.5 million, or 30.3%, for the thirteen week period and $13.2 million, or 24.5%, for the thirty-nine week period, compared to the same periods in the previous year. The increase in SG&A expenses was primarily due to the expenses necessary to support the growth in the company's existing operations. Interest expense increased $2.1 million due to interest on the 4.5% Convertible Subordinated Notes due 2004 (the "Notes"), partially offset by the retirement of all the outstanding debt of Futronix Corporation and Wire & Cable subsequent to the acquisition by the Company in the fourth quarter of fiscal 1997. Other-net consists principally of interest and dividend income generated by cash and cash equivalents and trading securities. The increase in interest and dividend income resulted from investment of the net proceeds from the Notes. Net earnings increased $3.2 million, or 46.0%, and $5.3 million, or 22.8% for the thirteen and thirty-nine week periods, respectively, compared to the same periods a year ago. The additional profit from the increased sales and the Company's continued focus on cost containment were the primary reasons for the improved profitability. Liquidity and Capital Resources - ------------------------------- Working capital at December 27, 1997 was $364.2 million, an increase of $213.3 million, or 141.4%, from March 29, 1997. The increase was primarily the result of net proceeds from the Notes offering, and to a lesser extent, growth in accounts receivable and inventories, offset by an increase in accounts payable, in relation to current and future sales levels. Page 10 of 15 Included in the Company's working capital at December 27, 1997 are investments, including trading securities, of $213.4 million, an increase of $184.6 million since March 29, 1997, primarily the result of the Notes offering. The Company's investment strategy is low-risk and short-term, keeping the funds readily available to meet capital requirements as they arise in the normal course of business. At December 27, 1997, funds were invested primarily in a reverse repurchase agreement, institutional money market funds and a managed fund consisting primarily of taxable, high quality corporate debt instruments. These investments are compatible with the Company's stated investment strategy. The Company maintains a $25 million line of credit with a bank. As of December 27, 1997, there was no indebtedness outstanding under the line of credit. The Company intends to apply its capital resources to expand its business by establishing or acquiring similar distribution and manufacturing operations in geographic areas that are attractive to the Company, by acquiring new facilities and by enlarging or improving existing facilities. In addition to the capital required to purchase existing businesses or to fund start-up operations, the expansion of the Company's operations at both new and existing locations will require greater levels of capital to finance the purchase of additional equipment, increased levels of inventory and greater accounts receivable. The Company believes that current resources including the net proceeds from the Notes and the line of credit, along with funds generated from operations, should be sufficient to meet its current capital requirements. Page 11 of 15 PART II - OTHER INFORMATION Items 1, 2, 3, 4 and 5 are not applicable and have been omitted. Item 6. Exhibits and Reports on Form 8-K. - ---------------------------------------- (a) Exhibits: 11 - Statement re computation of per share earnings. 27.1 - Financial Data Schedule (filed only in electronic format). 27.2 - Financial Data Schedule--continued (filed only in electronic format). 27.3 - Financial Data Schedule--continued (filed only in electronic format). (b) Reports on Form 8-K: Not applicable. Page 12 of 15 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. KENT ELECTRONICS CORPORATION -------------------------------------- (Registrant) Date: February 10, 1998 By: /s/ MORRIE K. ABRAMSON ------------------------------ -------------------------------- Morrie K. Abramson Chairman of the Board, Chief Executive Officer and President (Principal Executive Officer) Date: February 10, 1998 By: /s/ STEPHEN J. CHAPKO ------------------------------ --------------------------------- Stephen J. Chapko Executive Vice President, Chief Financial Officer, Treasurer and Secretary (Principal Financial Officer) Date: February 10, 1998 By: /s/ DAVID D. JOHNSON ----------------------------- --------------------------------- David D. Johnson Vice President, Corporate Controller (Principal Accounting Officer) 13 of 15 EXHIBIT INDEX ------------- Exhibit numbers are in accordance with the Exhibit Table in Item 601 of Regulation S-K ------------------------------------------- Exhibit No. Exhibit Description Sequential Page No. - ----------- --------------------------------- ------------------- 11 Statement re computation 15 of per share earnings 27.1 Financial Data Schedule (filed only in electronic format) -- 27.2 Financial Data Schedule--continued (filed only in electronic format) -- 27.3 Financial Data Schedule--continued (filed only in electronic format) -- Page 14 of 15 EX-11 2 COMPUTATION OF PER SHARE EARNINGS
KENT ELECTRONICS CORPORATION AND SUBSIDIARIES COMPUTATION OF EARNINGS PER SHARE EXHIBIT 11 (Unaudited - In thousands, except per share data) For the Thirteen Weeks Ended For the Thirteen Weeks Ended December 27, 1997 December 28, 1996 -------------------- ----------- -------------------- ----------- Per-Share Per-Share Income Shares Amount Income Shares Amount --------- -------- ----------- --------- -------- ----------- BASIC EARNINGS PER SHARE Net earnings $10,128 26,664 $ 0.38 $ 6,937 25,381 $ 0.27 ====== ====== EFFECT OF DILUTIVE SECURITIES Excess of shares issuable upon exercise of stock options over shares deemed retired utilizing the treasury stock method - 1,710 - 1,500 Convertible preferred stock of pooled company - - - 391 Warrants of pooled company - - - 266 ------- ------- ------- ------ DILUTED EARNINGS PER SHARE Net earnings plus assumed conversions $10,128 28,374 $ 0.36 $ 6,937 27,538 $ 0.25 ======= ====== ====== ======= ====== ====== For the Thirty-Nine Weeks Ended For the Thirty-Nine Weeks Ended December 27, 1997 December 28, 1996 -------------------- ----------- -------------------- ----------- Per-Share Per-Share Income Shares Amount Income Shares Amount --------- -------- ----------- --------- -------- ----------- BASIC EARNINGS PER SHARE Net earnings $28,508 26,450 $ 1.08 $23,220 25,377 $ 0.92 ====== ====== EFFECT OF DILUTIVE SECURITIES Excess of shares issuable upon exercise of stock options over shares deemed retired utilizing the treasury stock method - 1,695 - 1,443 Convertible preferred stock of pooled company - - - 391 Warrants of pooled company - - - 266 ------- ------- ------- ------ DILUTED EARNINGS PER SHARE Net earnings plus assumed conversions $28,508 28,145 $ 1.01 $23,220 27,477 $ 0.85 ======= ====== ====== ======= ====== ======
Page 15 of 15 EX-27.1 3 FINANCIAL DATA SCHEDULE
5 1,000 9-MOS MAR-28-1998 DEC-27-1997 180,599 29,916 124,722 1,551 110,258 448,659 152,727 33,513 596,911 84,497 207,000 0 0 52,296 250,864 596,911 496,993 496,993 384,076 384,076 0 295 2,697 47,120 18,612 28,508 0 0 0 28,508 1.08 1.01
EX-27.2 4 RESTATED FINANCIAL DATA SCHEDULE
5 0000793024 KENT ELECTRONICS CORPORATION 1,000 3-MOS 6-MOS MAR-28-1998 MAR-28-1998 JUN-28-1997 SEP-27-1997 21,035 190,371 0 0 93,813 102,739 1,337 1,408 107,136 118,002 224,621 415,842 125,202 136,332 28,030 30,786 343,906 549,419 69,141 78,990 0 180,000 0 0 0 0 41,875 47,706 230,897 240,627 343,906 549,419 152,080 319,567 152,080 319,567 117,221 246,800 117,221 246,800 0 0 81 152 7 138 14,497 30,372 5,722 11,992 8,775 18,380 0 0 0 0 0 0 8,775 18,380 0.33 0.70 0.32 0.66
EX-27.3 5 RESTATED FINANCIAL DATA SCHEDULE
5 0000793024 KENT ELECTRONICS CORPORATION 1,000 3-MOS 6-MOS 9-MOS YEAR YEAR MAR-29-1997 MAR-29-1997 MAR-29-1997 MAR-29-1997 MAR-30-1996 JUN-29-1996 SEP-28-1996 DEC-28-1996 MAR-29-1997 MAR-30-1996 66,877 48,195 39,519 25,050 73,431 26,827 26,877 27,002 0 38,747 71,574 77,941 82,221 90,091 61,258 1,111 1,210 1,356 1,256 1,048 71,870 78,895 81,834 94,494 65,591 240,649 235,360 235,054 212,402 242,530 80,189 94,266 105,731 116,405 65,241 19,937 21,600 23,320 25,515 18,358 316,503 327,070 339,319 325,594 305,174 69,492 74,057 78,921 61,518 69,772 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 39,820 39,116 39,457 40,371 38,357 202,227 209,034 215,902 221,996 192,611 316,503 327,070 339,319 325,594 305,174 125,144 249,178 375,585 516,757 425,810 125,144 249,178 375,585 516,757 425,810 93,238 189,254 286,821 396,054 313,643 93,238 189,254 286,821 396,054 313,643 0 0 0 0 0 38 144 330 409 249 304 666 1,080 1,192 898 15,556 26,549 37,824 45,100 49,095 6,125 10,266 14,604 17,479 19,303 9,431 16,283 23,220 27,621 29,792 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9,431 16,283 23,220 27,621 29,792 0.37 0.64 0.92 1.08 1.28 0.34 0.59 0.85 1.00 1.21
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