New jersey resources corporation (NJR)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10Dec'09
CASH FLOWS USED IN OPERATING ACTIVITIES
Net Income (Loss) Attributable to Parent

187,550

172,618

169,505

135,164

129,292

195,985

233,436

213,168

246,399

220,835

132,065

193,988

157,668

116,319

131,672

110,469

120,372

107,922

180,960

152,343

145,529

257,597

141,970

146,369

189,798

62,296

114,809

126,137

86,662

95,728

92,879

94,061

124,755

134,147

101,299

110,325

79,774

90,064

117,457

0

0

0

Adjustments to reconcile net income to cash flows from operating activities
Unrealized gain on derivative instruments

41,951

27,953

-2,881

24,487

-2,817

19,017

-26,770

-57,197

-38,558

4,688

11,241

53,561

-18,295

-76,320

-46,883

-38,239

16,448

-48,857

38,681

36,286

44,058

125,793

-28,534

-60,076

-22,511

-74,572

9,417

5,490

-71,608

-44,928

-35,789

-969

36,526

45,001

-36,876

-19,925

-49,865

-33,644

27,392

0

0

0

Realized and unrealized gains on investments in equity securities

-

1,310

-

-

-

257

5,332

5,332

5,332

10,038

7,287

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

106,129

97,656

91,730

88,359

85,530

85,679

85,701

86,127

86,567

84,435

81,841

80,199

78,110

75,526

72,748

69,132

66,035

63,495

61,399

58,892

56,938

54,562

52,742

51,358

49,680

48,573

47,310

45,883

44,628

43,346

41,643

40,481

37,870

36,346

35,200

34,009

34,294

33,543

33,192

0

0

0

Amortization of acquired wholesale energy contracts

5,031

8,188

8,424

8,222

7,657

15,201

18,222

18,575

18,673

4,153

762

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Allowance for equity used during construction

10,943

7,473

6,492

7,936

7,082

6,430

5,531

4,859

4,332

4,135

3,867

3,154

3,604

3,744

4,375

4,413

4,168

3,787

3,825

3,779

2,973

2,602

1,562

1,265

1,307

1,644

2,037

2,247

1,832

1,202

638

1,165

1,740

2,124

2,100

1,943

1,747

1,799

2,165

0

0

0

Allowance for doubtful accounts

2,189

2,174

2,387

2,593

2,734

2,751

2,579

2,779

2,498

2,264

2,023

1,362

1,262

1,512

1,616

1,886

2,036

2,229

2,859

2,962

2,995

3,054

2,504

2,483

2,491

2,479

2,627

3,772

3,687

3,528

3,932

3,489

3,879

4,468

4,865

4,395

4,163

3,823

3,307

0

0

0

Non cash lease expense

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

-75,032

-47,034

-59,013

-30,853

3,758

-6,594

15,590

10,769

37,409

38,631

41,442

54,090

41,943

-2,183

27,721

30,825

32,338

56,203

45,934

33,959

27,027

70,824

18,421

38,895

49,406

2,336

41,075

-12,505

-11,604

-20,814

-5,323

43,512

62,328

72,401

35,034

21,239

13,105

40,159

68,458

0

0

0

Deferred income tax benefit due to tax legislation

-

-

-

-

-

-

-75,736

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Manufactured gas plant remediation costs

14,816

14,259

13,878

12,129

13,305

13,617

16,171

17,635

14,449

14,462

10,934

9,959

9,154

8,205

8,106

7,130

7,372

7,317

6,805

5,750

4,640

4,272

4,396

4,231

4,757

6,357

6,166

7,166

6,255

6,807

7,965

9,422

13,352

15,317

14,115

11,717

7,796

3,242

3,824

0

0

0

Equity in earnings, net of distributions received from equity investees

5,080

4,658

4,156

3,490

3,289

2,298

1,725

1,063

271

1,820

462

-780

-1,810

-4,496

-4,534

-6,174

-4,835

-5,656

-6,663

-5,134

-5,052

-3,214

-2,589

-5,713

-3,090

-3,121

-3,299

-1,540

-4,782

-5,787

-6,799

-7,470

-6,656

-4,404

-2,791

-2,630

-3,048

-2,897

-839

0

0

0

Cost of removal - asset retirement obligations

250

254

258

399

94

31

298

214

576

618

484

667

579

568

403

666

697

962

1,034

1,363

1,392

1,211

1,153

1,028

1,724

1,607

1,697

1,210

965

992

1,196

1,027

738

876

826

844

985

1,062

809

0

0

0

Contributions to postemployment benefit plans

11,990

8,747

8,157

7,645

6,620

6,558

6,359

6,145

5,841

5,832

6,077

5,674

3,076

4,927

33,359

35,637

35,511

35,853

5,778

3,801

5,039

3,463

4,953

5,108

5,274

6,100

26,028

25,966

25,994

25,823

25,874

26,351

26,410

26,626

11,496

21,292

21,448

21,425

19,567

0

0

0

Tax benefit from stock-based compensation

-819

-819

-1,300

-1,448

-1,443

-1,448

-3,000

-2,857

-2,910

-2,943

-1,300

-1,338

-1,326

-1,308

-1,755

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in:
Components of working capital

-47,513

-61,728

27,759

-17,648

-52,380

-79,804

-97,004

-108,451

-21,190

21,967

-17,081

57,154

140,768

171,737

123,325

99,487

-25,523

-54,838

-81,817

-90,547

-31,946

-155,706

-85,480

-44,999

-80,234

117,486

60,316

7,335

108,300

38,590

95,357

71,677

-2,319

-119,766

-43,748

-24,219

-64,924

392,769

35,297

0

0

0

Other noncurrent assets

11,326

4,983

-3,415

7,027

7,119

3,468

-17,860

-27,841

-27,860

-35,193

-13,978

-55,478

-44,307

-34,026

-3,933

7,471

16,474

-4,957

-38,716

-17,321

-43,842

-25,400

-10,484

-27,838

-10,336

-22,170

-9,496

31,893

27,031

40,632

20,539

-3,877

-2,537

-7,422

-7,081

-5,585

-37,277

-13,478

-3,525

0

0

0

Other noncurrent liabilities

23,501

30,805

38,125

16,241

29,907

17,319

13,989

3,477

-281

3,294

-2,079

19,348

16,176

17,178

21,336

1,147

9,436

15,170

27,841

46,640

39,221

28,034

20,724

-783

-5,429

7,791

1,039

32,783

25,452

25,122

26,931

-1,420

12,138

15,481

11,744

24,161

-14,079

7,122

1,691

0

0

0

Cash flows from operating activities

196,708

251,041

189,350

171,519

257,602

317,033

398,286

417,507

388,713

270,608

248,046

269,127

196,429

132,740

142,630

104,812

182,446

313,924

390,947

364,422

301,213

467,815

358,149

365,316

389,055

90,144

113,994

116,303

54,838

83,579

51,081

82,797

173,716

304,491

250,101

210,692

75,429

59,759

139,415

0

0

0

CASH FLOWS (USED IN) FROM INVESTING ACTIVITIES
Expenditures for:
Payments to acquire PP&E

-

-

-

-

-

-

206,880

182,000

155,040

147,348

144,106

157,149

158,502

164,998

176,067

155,922

158,466

149,148

140,797

134,499

126,940

132,091

128,254

127,209

119,077

107,890

110,482

106,015

113,273

117,751

104,277

95,646

92,423

86,327

93,624

106,818

102,463

102,986

86,620

0

0

0

Solar and wind equipment

-

-

-

-

-

-

123,421

115,858

118,487

121,002

149,400

155,285

168,086

150,842

149,063

155,150

133,514

140,663

151,002

155,562

178,510

165,971

135,543

110,938

79,663

68,722

59,125

54,239

52,805

57,435

89,726

129,703

122,242

118,540

71,989

20,170

14,174

3,701

2,641

0

0

0

Midstream and other

-

-

-

-

-

-

6,644

6,380

5,077

3,576

2,434

1,363

1,343

1,270

1,896

1,585

1,217

995

209

633

763

985

1,179

1,146

1,221

1,093

1,042

1,298

1,173

1,399

1,334

1,694

3,641

3,553

3,549

2,880

1,191

985

917

0

0

0

Cost of removal

40,548

39,735

40,195

37,172

31,685

43,287

47,643

51,825

50,397

37,436

32,143

30,725

23,824

29,950

29,066

30,306

36,824

32,019

28,078

24,736

24,732

21,822

24,312

24,105

23,192

30,449

26,601

22,730

19,736

11,131

12,178

10,928

11,529

9,186

8,369

9,024

6,374

7,610

7,201

0

0

0

Acquisition of assets, net of cash acquired of $5.1 million

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distribution from equity investees in excess of equity in earnings

2,406

2,452

2,428

2,075

2,956

2,943

3,117

3,085

2,791

2,854

2,749

2,615

2,493

2,484

2,351

0

0

0

-

-

-

-

1,150

2,316

2,895

3,016

3,079

2,107

648

458

0

0

0

0

-

-

-

-

-

-

-

-

Investments in equity investees

3,911

4,611

4,102

4,351

6,431

8,949

16,151

17,469

27,709

29,636

27,070

26,584

15,766

12,966

11,176

12,156

10,464

8,079

5,780

2,868

1,819

1,102

555

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

4,300

0

0

0

Cash paid related to acquisition

-

-

-

-

-

-

10,000

10,000

10,000

10,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Deposits to) withdrawal from restricted cash construction fund

-

-

-

-

-

-

-

-

-

-

-

-1,292

-1,309

22

-979

0

0

0

-

-

-

-

-88

-156

-141

-136

-56

928

938

825

802

-117

-156

-76

-58

378

407

435

445

0

0

0

Proceeds from sale of property, net of closing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

748

0

0

0

-

-

-

-

6,010

6,010

6,000

6,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of investments in equity securities, net

-

-

-

-

-

-

6,616

6,616

6,616

10,037

6,639

6,639

6,639

3,218

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash flows (used in) from investing activities

-1,076,253

-683,092

-282,599

-223,948

-161,781

-389,889

-373,090

-402,878

-404,902

-382,325

-391,983

-351,117

-347,637

-354,346

-363,190

-348,115

-332,935

-324,908

-321,729

-317,719

-332,592

-320,758

-282,595

-254,916

-213,635

-198,520

-193,633

-191,421

-196,077

-196,883

-217,117

-235,458

-227,283

-215,134

-175,077

-138,549

-123,888

-114,996

-101,403

0

0

0

CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES
Proceeds from term loan

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of term loan

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of long-term debt

216,397

217,768

218,638

46,770

172,145

168,519

165,486

188,117

61,540

96,828

97,854

48,943

49,142

13,329

13,289

37,612

38,336

37,992

37,039

10,849

22,079

82,733

82,586

82,109

70,137

9,145

8,953

8,977

8,487

8,211

8,025

109,257

109,543

109,716

130,091

27,756

27,464

26,976

6,749

0

0

0

Proceeds from long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

250,000

250,000

100,000

225,000

125,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from (payments of) short-term debt, net

283,573

-118,091

-126,500

42,200

-105,000

-1,500

-114,050

-206,300

-87,000

88,600

144,300

18,775

85,400

73,600

55,350

244,625

6,500

-43,196

-234,650

-174,500

82,800

-249,404

-64,600

-122,400

-224,900

109,200

85,800

-3,100

96,800

77,800

120,450

162,000

43,700

-24,525

11,750

-26,300

48,900

140,325

4,200

0

0

0

Proceeds from sale-leaseback transaction

4,000

4,000

9,895

9,895

9,895

9,895

7,820

7,820

7,820

7,820

9,587

9,587

9,587

9,587

7,107

7,107

7,107

7,107

7,216

7,216

7,216

7,216

7,576

7,576

7,576

7,576

7,076

7,076

7,076

7,076

6,522

6,522

6,522

6,522

5,901

5,901

5,901

5,901

4,925

0

0

0

Payments of common stock dividends

109,130

105,221

104,059

102,231

100,126

98,040

95,835

93,413

91,549

89,664

87,988

86,579

85,228

83,852

82,445

81,081

79,637

78,063

76,532

74,968

73,410

72,040

70,664

69,533

68,581

51,527

67,230

65,841

64,906

80,062

61,688

61,369

60,428

59,573

58,650

57,724

54,659

53,911

53,137

0

0

0

Proceeds from issuance of common stock - public equity offering

229,617

229,617

16,717

16,763

7,260

13,290

17,136

17,262

17,637

16,722

17,492

17,639

17,521

16,819

16,010

15,813

17,209

16,733

37,299

36,871

35,926

36,189

15,373

39,419

38,674

35,558

37,839

13,779

13,592

16,424

13,834

13,833

13,571

13,938

13,704

10,580

7,413

6,392

6,487

0

0

0

Proceeds from waiver discount issuance of common stock

32,852

49,427

57,391

57,391

43,526

26,951

41,677

41,677

22,690

22,690

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock - DRP

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of treasury stock

-

-

-

-

-

-

-

-

-

-

6,355

6,355

6,355

6,355

1,008

2,552

7,652

7,652

10,589

10,180

5,080

9,467

5,522

0

0

0

-

-

-

-

8,768

11,739

7,771

13,910

10,193

8,803

12,143

20,656

29,650

0

0

0

Tax withholding payments related to net settled stock compensation

-4,390

-4,560

-7,104

-6,834

-6,942

-6,523

-13,755

-13,818

-13,854

-13,940

-4,788

-11,501

-11,082

-10,756

-3,547

-923

196

80

-2,146

839

-204

-133

-949

411

188

111

173

668

637

780

780

1,874

1,882

2,001

2,007

1,120

786

513

669

0

0

0

Cash flows from (used in) financing activities

824,370

442,227

95,602

77,752

-17,472

75,841

-25,955

-76,988

-72,895

68,301

107,295

49,341

242,063

266,798

253,178

267,931

49,025

933

-66,441

20,157

125,169

-145,372

-76,372

-108,940

-171,862

115,167

78,099

69,916

139,433

108,756

163,105

98,909

-15,022

-88,218

-68,527

-102,982

-31,266

51,588

-73,255

0

0

0

Change in cash, cash equivalents and restricted cash

-55,175

10,176

2,353

25,323

78,349

2,985

-759

-62,359

-89,084

-43,416

-36,642

-32,649

90,855

45,192

32,618

24,628

-101,464

-10,051

2,777

66,860

93,790

1,685

-818

1,460

3,558

6,791

-1,540

-5,202

-1,806

-4,548

-2,931

-53,752

-68,589

1,139

6,497

-30,839

-79,725

-3,649

-35,243

0

0

0

CHANGES IN COMPONENTS OF WORKING CAPITAL
Receivables

-82,163

-60,212

-63,795

-26,618

-37,796

-23,690

7,524

36,244

70,786

97,047

56,974

25,030

109,355

113,093

-11,303

-50,941

-194,426

-170,974

-32,529

-77,041

-164,324

-62,287

-48,032

-10,900

121,942

109,876

72,244

120,647

228,344

32,021

-36,670

-84,691

-77,139

-35,657

49,473

246,008

299,373

379,236

66,189

0

0

0

Inventories

21,061

-55,271

-14,265

-3,459

-12,379

40,036

-15,464

-62,857

-69,596

-14,415

-3,022

43,552

27,144

33,168

45,986

44,602

47,875

-79,481

-114,638

-103,918

-70,167

-19,237

-43,130

-69,058

-30,378

-31,516

55,755

74,579

-2,716

27,987

-28,814

-31,754

-18,037

-71,531

-40,363

-66,689

-225,963

102,199

38,743

0

0

0

Recovery of gas costs

22,635

6,640

15,733

12,955

4,810

-12,195

-30,439

-33,044

-29,786

-19,484

90

34,875

28,862

30,232

39,642

8,507

17,151

-5,082

-18,979

-36,849

-21,883

-9,517

-13,015

4,619

-13,508

-11,242

-6,100

-6,713

-8,949

37,759

11,686

8,616

8,368

-55,828

-41,118

113,888

94,016

83,305

72,688

0

0

0

Gas purchases payable

-63,409

-88,608

-74,031

-42,914

10,715

66,566

51,187

36,775

18,432

16,175

20,663

27,629

40,520

42,880

-11,963

-34,817

-110,676

-127,159

-54,525

-98,266

-160,648

4,362

-47,528

-11,150

122,099

27,734

72,415

115,889

98,988

14,866

-70,216

-89,740

-57,367

-40,248

22,289

204,122

19,537

36,958

100,290

0

0

0

Prepaid expenses

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gas purchases payable - related parties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-411

-258

-362

-388

202

64

266

328

14

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid and accrued taxes

29,084

634

2,271

34,357

-19,180

30,699

1,254

10,193

416

-10,006

10,366

-19,013

-14,940

38,133

2,385

-14,520

-14,176

-60,063

-18,161

-12,334

-6,862

2,792

21,133

163

12,082

2,274

-8,182

54,470

22,911

46,247

23,036

-35,720

-40,475

-43,424

-8,691

-8,870

18,679

4,307

-10,431

0

0

0

Accounts payable and other

10,864

22,674

2,256

3,326

22,010

18,451

40,422

22,272

5,572

-36

13,086

4,332

-657

-5,572

-15,656

-11,846

-4,284

16,649

-14,714

-552

-4,732

-9,084

34,716

15,550

9,788

-20,624

726

-19,557

-3,915

14,620

-3,418

2,366

3,310

1,000

4,469

12,478

-12,277

-14,139

291

0

0

0

Restricted broker margin accounts

19,406

22,935

-22,004

11,615

-4,027

-19,243

-30,974

-34,241

-35,026

27,049

22,570

-60,153

-22,798

-58,070

-38,752

63,701

47,637

-34,953

18,452

1,753

-16,136

72,537

-20,758

-30,457

4,215

-44,585

15,348

47,746

4,719

10,386

666

-15,589

2,651

24,612

-31,813

23,096

39,980

-2,993

35,468

0

0

0

Customers' credit balances and deposits

1,166

-56

-209

-6,719

-99

-3,421

368

6,251

-1,808

-400

-5,877

-3,363

-947

2,604

12,044

6,773

4,502

-5,834

-1,545

-3,104

940

8,299

-2,058

2,102

-2,299

-9,174

-24,059

-20,905

-13,582

-3,596

-65,324

-37,158

17,415

5,689

21,819

-14,738

-109,637

-69,329

18,740

0

0

0

Other current assets

-8,735

-12,196

-1,991

-862

-1,759

13,144

3,631

-7,542

-5,006

-8,397

-10,313

558

1,539

1,504

-3,353

8,922

1,562

2,661

14,038

14,822

37,062

14,309

4,216

6,532

-12,324

6,107

-5,351

-3,596

681

23,285

33,838

3,665

10,023

-9,121

-3,667

7,072

-17,734

18,669

2,035

0

0

0

Increase (Decrease) in Operating Capital

-

-

-

-

-

-

-97,004

-108,451

-21,190

21,967

-17,081

57,154

140,768

171,737

123,325

99,487

-25,523

-54,838

-81,817

-90,547

-31,946

-155,706

-85,480

-44,999

-80,234

117,486

60,316

7,335

108,300

38,590

95,357

71,677

-2,319

-119,766

-43,748

-24,219

-64,924

392,769

35,297

0

0

0

SUPPLEMENTAL DISCLOSURES OF CASH FLOWS INFORMATION
Interest (net of amounts capitalized)

55,789

49,307

50,371

51,633

48,510

51,065

44,821

49,529

46,549

45,967

44,362

40,632

37,927

34,746

31,996

31,376

26,909

28,235

24,208

24,363

24,183

22,130

22,458

21,712

21,428

21,152

20,414

18,873

18,553

17,081

16,670

16,463

16,475

16,495

17,323

14,017

14,893

14,763

14,665

0

0

0

Income taxes

12,837

12,517

12,647

9,932

3,595

5,898

5,577

1,496

2,539

-48

-6,877

-8,617

-10,635

-10,738

-3,516

6,895

14,759

26,764

28,790

32,483

28,518

24,538

22,447

15,282

16,576

12,171

12,039

12,056

13,350

9,923

10,053

8,563

1,932

5,207

5,165

4,504

4,449

24,270

24,177

0

0

0

SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING ACTIVITIES
Accrued capital expenditures

18,970

25,798

30,725

32,683

45,759

24,316

30,559

18,962

12,970

19,361

21,769

59,602

50,502

55,602

48,881

20,743

23,558

38,290

28,676

25,376

35,089

20,341

9,655

16,948

3,707

-748

-7,103

-1,369

-6,247

-9,877

8,257

0

0

0

-

-

-

-

-

-

-

-

Utility Plant
Payments to acquire PP&E

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Solar Equipment
Payments to acquire PP&E

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Midstream and Other Property
Payments to acquire PP&E

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-