hD

Cash Flow Summary

Atmos Energy (ATO) annual cash flow statement covering fiscal 2020 through 2025, as reported to the SEC.

  • Atmos Energy generated $2.05B in cash from operations in fiscal 2025, up 18.2% from $1.73B in fiscal 2024.
  • That is 1.7 times its reported net income of $1.2B.
  • After spending $3.56B on capital expenditures, free cash flow was -$1.51B.
  • Investing activities used $3.56B and financing activities provided $1.41B. Overall, cash went down $105.05M.
  • Atmos Energy paid $553.76M in dividends.

Net cash provided by operating activities has grown 14.6% a year on average since fiscal 2020, from $1.04B to $2.05B.

A cash flow statement shows the cash that actually came in and went out, split between running the business, investing and financing.

Figures in USD thousands
Sep'25Sep'24Sep'23Sep'22Sep'21Sep'20
Cash Flows From Operating Activities
Net income

1,198,754

1,042,895

885,862

774,398

665,563

601,443

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net income

1,198,754

1,042,895

885,862

774,398

665,563

601,443

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense

734,745

669,972

604,327

535,655

477,977

429,828

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Depreciation and amortization expense

734,745

669,972

604,327

535,655

477,977

429,828

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Charged to other accounts

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Charged to other accounts

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred income taxes

268,606

172,707

108,215

53,651

155,355

155,322

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred income taxes

268,606

172,707

108,215

53,651

155,355

155,322

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

One-time income tax benefit

-

-

-

-

-

-20,962

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

One-time income tax benefit

-

-

-

-

-

-20,962

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Asset impairments

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Asset impairments

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on sale of discontinued operations

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on sale of discontinued operations

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Discontinued cash flow hedging for commodity contracts

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Discontinued cash flow hedging for commodity contracts

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Stock-based compensation

12,731

10,709

10,178

10,743

11,255

9,583

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Stock-based compensation

12,731

10,709

10,178

10,743

11,255

9,583

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of debt issuance costs

-14,962

-6,882

3,639

9,141

14,030

11,543

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of debt issuance costs

-14,962

-6,882

3,639

9,141

14,030

11,543

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Equity component of AFUDC

75,425

58,234

64,019

45,505

32,749

23,493

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Equity component of AFUDC

75,425

58,234

64,019

45,505

32,749

23,493

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other

-11,003

-1,546

591

-3,265

-3,731

-8,411

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other

-11,003

-1,546

591

-3,265

-3,731

-8,411

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

(Increase) decrease in accounts receivable

1,417

40,909

-46,859

34,325

113,665

-7,167

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

(Increase) decrease in accounts receivable

1,417

40,909

-46,859

34,325

113,665

-7,167

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

(Increase) decrease in gas stored underground

2,248

-76,322

-112,111

179,825

66,166

-18,188

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

(Increase) decrease in gas stored underground

2,248

-76,322

-112,111

179,825

66,166

-18,188

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Decrease in Winter Storm Uri current regulatory asset (see Note 10)

-

-

-2,021,889

-

2,003,659

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Decrease in Winter Storm Uri current regulatory asset (see Note 10)

-

-

-2,021,889

-

2,003,659

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

(Increase) decrease in other current assets

-19,517

-17,138

36,041

65,979

84,705

35,878

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

(Increase) decrease in other current assets

-19,517

-17,138

36,041

65,979

84,705

35,878

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Increase in Winter Storm Uri long-term regulatory asset (see Note 3)

-

-

-

-

76,652

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Increase in Winter Storm Uri long-term regulatory asset (see Note 3)

-

-

-

-

76,652

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Increase in deferred charges and other assets

211,286

195,369

172,586

-13,287

-136,809

31,935

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Increase in deferred charges and other assets

211,286

195,369

172,586

-13,287

-136,809

31,935

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Increase (decrease) in accounts payable and accrued liabilities

31,558

-4,563

-132,575

40,394

104,242

7,359

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Increase (decrease) in accounts payable and accrued liabilities

31,558

-4,563

-132,575

40,394

104,242

7,359

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Increase (decrease) in other current liabilities

31,406

-10,287

30,687

-152,274

-166,268

-129,543

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Increase (decrease) in other current liabilities

31,406

-10,287

30,687

-152,274

-166,268

-129,543

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Increase in deferred credits and other liabilities

46,474

58,701

41,788

14,958

-109,349

30,966

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Increase in deferred credits and other liabilities

46,474

58,701

41,788

14,958

-109,349

30,966

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash provided by operating activities

2,049,456

1,733,746

3,459,743

977,584

-1,084,251

1,037,999

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash provided by operating activities

2,049,456

1,733,746

3,459,743

977,584

-1,084,251

1,037,999

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Cash Flows From Investing Activities
Capital expenditures

3,561,399

2,937,124

2,805,973

2,444,420

1,969,540

1,935,676

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Capital expenditures

3,561,399

2,937,124

2,805,973

2,444,420

1,969,540

1,935,676

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Acquisition

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Acquisition

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from the sale of discontinued operations

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from the sale of discontinued operations

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Purchases of debt and equity securities

34,323

19,734

46,789

28,285

49,879

50,517

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Purchases of debt and equity securities

34,323

19,734

46,789

28,285

49,879

50,517

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from sale of debt and equity securities

7,267

5,977

25,134

4,872

14,957

32,339

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from sale of debt and equity securities

7,267

5,977

25,134

4,872

14,957

32,339

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Maturities of debt securities

22,801

12,050

13,340

27,586

28,850

18,669

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Maturities of debt securities

22,801

12,050

13,340

27,586

28,850

18,669

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Use tax refund

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Use tax refund

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other, net

-4,372

-16,062

-19,008

-10,289

-11,957

-9,667

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other, net

-4,372

-16,062

-19,008

-10,289

-11,957

-9,667

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash used in investing activities

-3,561,282

-2,922,769

-2,795,280

-2,429,958

-1,963,655

-1,925,518

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash used in investing activities

-3,561,282

-2,922,769

-2,795,280

-2,429,958

-1,963,655

-1,925,518

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Cash Flows From Financing Activities
Proceeds from issuance of securitized long-term debt by AEK

-

-

95,000

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from issuance of securitized long-term debt by AEK

-

-

95,000

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net proceeds from equity issuances

698,462

749,987

806,949

776,805

606,667

624,302

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net proceeds from equity issuances

698,462

749,987

806,949

776,805

606,667

624,302

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Issuance of common stock through stock purchase and employee retirement plans

15,277

15,084

15,395

15,403

15,841

19,548

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Issuance of common stock through stock purchase and employee retirement plans

15,277

15,084

15,395

15,403

15,841

19,548

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net increase (decrease) in short-term debt

-

-241,933

56,966

184,967

-

-464,915

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net increase (decrease) in short-term debt

-

-241,933

56,966

184,967

-

-464,915

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from issuance of long-term debt

1,143,447

1,240,204

797,258

798,802

2,797,346

999,450

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from issuance of long-term debt

1,143,447

1,240,204

797,258

798,802

2,797,346

999,450

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Settlement of interest rate swaps

-122,874

-231,138

-171,145

-197,073

-62,159

4,426

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Settlement of interest rate swaps

-122,874

-231,138

-171,145

-197,073

-62,159

4,426

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from term loan

-

-

2,020,000

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from term loan

-

-

2,020,000

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Repayment of term loan

-

-

2,020,000

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Repayment of term loan

-

-

2,020,000

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Repurchase of common stock

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Repurchase of common stock

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest rate swaps cash collateral

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest rate swaps cash collateral

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Repayment of long-term debt

-

-

2,200,000

200,000

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Repayment of long-term debt

-

-

2,200,000

200,000

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Repayment of securitized long-term debt by AEK

8,075

9,922

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Repayment of securitized long-term debt by AEK

8,075

9,922

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Cash dividends paid

553,761

492,950

430,345

375,914

323,904

282,444

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Cash dividends paid

553,761

492,950

430,345

375,914

323,904

282,444

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Debt issuance costs

10,384

11,844

7,864

8,196

14,288

7,738

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Debt issuance costs

10,384

11,844

7,864

8,196

14,288

7,738

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Securitized debt issuance costs

-

-

1,273

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Securitized debt issuance costs

-

-

1,273

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Repurchase of equity awards

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Repurchase of equity awards

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other

-1,067

-1,133

-

-1,735

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other

-1,067

-1,133

-

-1,735

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash provided by financing activities

1,406,773

1,478,631

-696,769

1,387,205

3,143,821

883,777

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash provided by financing activities

1,406,773

1,478,631

-696,769

1,387,205

3,143,821

883,777

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net increase in cash and cash equivalents and restricted cash and cash equivalents

-105,053

289,608

-32,306

-65,169

95,915

-3,742

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net increase in cash and cash equivalents and restricted cash and cash equivalents

-105,053

289,608

-32,306

-65,169

95,915

-3,742

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

CASH PAID (RECEIVED) DURING THE PERIOD FOR:
Interest

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income taxes

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income taxes

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx