Umh Properties (UMH) Quarterly Balance Sheet

Balance Sheet Summary

Umh Properties (UMH) quarterly balance sheet covering the six quarters from December 2024 to June 2026, as reported to the SEC.

Umh Properties had total assets of $1.71B and total Liabilities of $821.03M as of June 30, 2026. That leaves shareholders' equity of $891.89M.
Total assets were up 5.5% from $1.62B a year earlier.
Cash and Cash Equivalents were $28.62M, down 63.9% from $79.23M. That is 1.7% of total assets.
Long-term debt was $545.37M, or 31.8% of total assets, up 2.9% from $530.19M.
Umh Properties has an accumulated deficit of $25.36M.

A balance sheet shows what a company owns and what it owes on a single date. The difference between the two belongs to shareholders.

Figures in USD thousands

						Jun'26	Dec'25	Sep'25	Jun'25	Mar'25	Dec'24
- ASSETS -
Investment Property and Equipment
Land
93,361	92,824	91,680	89,588	89,588	88,037	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Land						93,361	92,824	91,680	89,588	89,588	88,037	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Site and Land Improvements
1,110,686	1,093,424	1,029,095	1,008,884	999,300	970,053	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Site and Land Improvements						1,110,686	1,093,424	1,029,095	1,008,884	999,300	970,053	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Buildings and Improvements
52,583	51,524	48,647	45,647	45,618	44,782	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Buildings and Improvements						52,583	51,524	48,647	45,647	45,618	44,782	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Rental Homes and Accessories
664,528	631,618	617,195	596,115	578,409	566,242	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Rental Homes and Accessories						664,528	631,618	617,195	596,115	578,409	566,242	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total Investment Property
1,921,158	1,869,390	1,786,617	1,740,234	1,712,915	1,669,114	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total Investment Property						1,921,158	1,869,390	1,786,617	1,740,234	1,712,915	1,669,114	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Equipment and Vehicles
37,214	35,889	33,122	32,148	31,782	31,488	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Equipment and Vehicles						37,214	35,889	33,122	32,148	31,782	31,488	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total Investment Property and Equipment
1,958,372	1,905,279	1,819,739	1,772,382	1,744,697	1,700,602	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total Investment Property and Equipment						1,958,372	1,905,279	1,819,739	1,772,382	1,744,697	1,700,602	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accumulated Depreciation
567,712	533,864	517,599	502,132	487,441	471,703	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accumulated Depreciation						567,712	533,864	517,599	502,132	487,441	471,703	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net Investment Property and Equipment
1,390,660	1,371,415	1,302,140	1,270,250	1,257,256	1,228,899	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net Investment Property and Equipment						1,390,660	1,371,415	1,302,140	1,270,250	1,257,256	1,228,899	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other Assets
Cash and Cash Equivalents
28,622	72,100	34,056	79,235	35,199	99,720	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cash and Cash Equivalents						28,622	72,100	34,056	79,235	35,199	99,720	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Marketable Securities at Fair Value
29,665	23,758	31,743	30,159	30,328	31,883	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Marketable Securities at Fair Value						29,665	23,758	31,743	30,159	30,328	31,883	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Inventory of Manufactured Homes
41,673	42,370	35,727	38,688	41,008	34,982	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Inventory of Manufactured Homes						41,673	42,370	35,727	38,688	41,008	34,982	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Notes and Other Receivables, net
110,506	104,587	102,115	97,639	94,650	91,668	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Notes and Other Receivables, net						110,506	104,587	102,115	97,639	94,650	91,668	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Prepaid Expenses and Other Assets
16,951	13,778	17,088	16,420	16,016	14,261	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Prepaid Expenses and Other Assets						16,951	13,778	17,088	16,420	16,016	14,261	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Unamortized Financing Costs
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Unamortized Financing Costs						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Prepaid Expenses
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Prepaid Expenses						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Land Development Costs
63,447	39,898	76,372	62,057	45,815	33,868	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Land Development Costs						63,447	39,898	76,372	62,057	45,815	33,868	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Investment in Joint Ventures
31,399	31,130	30,294	29,574	29,034	28,447	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Investment in Joint Ventures						31,399	31,130	30,294	29,574	29,034	28,447	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total Other Assets
322,263	327,621	327,395	353,772	292,050	334,829	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total Other Assets						322,263	327,621	327,395	353,772	292,050	334,829	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
TOTAL ASSETS
1,712,923	1,699,036	1,629,535	1,624,022	1,549,306	1,563,728	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
TOTAL ASSETS						1,712,923	1,699,036	1,629,535	1,624,022	1,549,306	1,563,728	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
- LIABILITIES AND SHAREHOLDERS’ EQUITY -
LIABILITIES:
Mortgages Payable, net of unamortized debt issuance costs
545,374	556,129	467,471	530,193	476,372	485,540	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Mortgages Payable, net of unamortized debt issuance costs						545,374	556,129	467,471	530,193	476,372	485,540	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other Liabilities:
Accounts Payable
7,911	5,663	8,234	8,527	7,090	7,979	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accounts Payable						7,911	5,663	8,234	8,527	7,090	7,979	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loans Payable, net of unamortized debt issuance costs
65,777	27,696	28,132	27,639	28,814	28,279	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loans Payable, net of unamortized debt issuance costs						65,777	27,696	28,132	27,639	28,814	28,279	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Series A Bonds, net of unamortized debt issuance costs
102,175	101,751	101,539	-	-	100,903	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Series A Bonds, net of unamortized debt issuance costs						102,175	101,751	101,539	-	-	100,903	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Series B Bonds, net of unamortized debt issuance costs
76,160	75,651	75,396	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Series B Bonds, net of unamortized debt issuance costs						76,160	75,651	75,396	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Series A Bonds, net of unamortized debt issuance costs
-	-	-	101,327	101,115	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Series A Bonds, net of unamortized debt issuance costs						-	-	-	101,327	101,115	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accrued Liabilities and Deposits
12,240	14,115	11,618	12,125	11,517	15,091	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accrued Liabilities and Deposits						12,240	14,115	11,618	12,125	11,517	15,091	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Series C Preferred Stock Called for Redemption
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Series C Preferred Stock Called for Redemption						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Series B Preferred Stock Called for Redemption
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Series B Preferred Stock Called for Redemption						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accrued Liabilities and Deposits
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accrued Liabilities and Deposits						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Tenant Security Deposits
11,398	10,835	10,732	10,453	10,203	10,027	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Tenant Security Deposits						11,398	10,835	10,732	10,453	10,203	10,027	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total Other Liabilities
275,661	235,711	235,651	160,071	158,739	162,279	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total Other Liabilities						275,661	235,711	235,651	160,071	158,739	162,279	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total Liabilities
821,035	791,840	703,122	690,264	635,111	647,819	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total Liabilities						821,035	791,840	703,122	690,264	635,111	647,819	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Commitments and Contingencies
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Commitments and Contingencies						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Shareholders’ Equity:
Series C – 6.75% Cumulative Redeemable Preferred Stock, $0.10 par value per share, 3,866 and 13,750 shares authorized as of December 31, 2022 and 2021, respectively; 9,884 shares issued and outstanding as of December 31, 2021
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Series C – 6.75% Cumulative Redeemable Preferred Stock, $0.10 par value per share, 3,866 and 13,750 shares authorized as of December 31, 2022 and 2021, respectively; 9,884 shares issued and outstanding as of December 31, 2021						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Series D – 6.375% Cumulative Redeemable Preferred Stock, $0.10 par value per share, 18,700 shares authorized as of June 30, 2026 and December 31, 2025; 13,335 and 12,916 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively
333,386	322,899	321,885	321,804	321,804	320,572	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Series D – 6.375% Cumulative Redeemable Preferred Stock, $0.10 par value per share, 18,700 shares authorized as of June 30, 2026 and December 31, 2025; 13,335 and 12,916 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively						333,386	322,899	321,885	321,804	321,804	320,572	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Series D – 6.375% Cumulative Redeemable Preferred Stock, par value $0.10 per share, 9,300 shares authorized; 8,609 and 6,434 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Series D – 6.375% Cumulative Redeemable Preferred Stock, par value $0.10 per share, 9,300 shares authorized; 8,609 and 6,434 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Series D – 6.375% Cumulative Redeemable Preferred Stock, par value $0.10 per share, 9,300 and 6,000 shares authorized; 6,434 and 2,651 shares issued and outstanding as of December 31, 2020 and 2019, respectively
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Series D – 6.375% Cumulative Redeemable Preferred Stock, par value $0.10 per share, 9,300 and 6,000 shares authorized; 6,434 and 2,651 shares issued and outstanding as of December 31, 2020 and 2019, respectively						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Series B - 8.0% Cumulative Redeemable Preferred Stock, par value $0.10 per share, 2,000,000 shares authorized; 1,801,200 and -0- shares issued and outstanding as of December 31, 2015 and 2014, respectively
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Series B - 8.0% Cumulative Redeemable Preferred Stock, par value $0.10 per share, 2,000,000 shares authorized; 1,801,200 and -0- shares issued and outstanding as of December 31, 2015 and 2014, respectively						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Common Stock - $0.10 par value per share, 183,714 shares authorized as of June 30, 2026 and December 31, 2025; 85,307 and 84,850 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively
8,531	8,485	8,520	8,474	8,283	8,191	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Common Stock - $0.10 par value per share, 183,714 shares authorized as of June 30, 2026 and December 31, 2025; 85,307 and 84,850 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively						8,531	8,485	8,520	8,474	8,283	8,191	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Excess Stock - $0.10 par value per share, 3,000 shares authorized; no shares issued or outstanding as of June 30, 2026 and December 31, 2025
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Excess Stock - $0.10 par value per share, 3,000 shares authorized; no shares issued or outstanding as of June 30, 2026 and December 31, 2025						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Additional Paid-In Capital
573,810	599,520	619,651	627,068	607,640	610,630	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Additional Paid-In Capital						573,810	599,520	619,651	627,068	607,640	610,630	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accumulated Other Comprehensive Income
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accumulated Other Comprehensive Income						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accumulated Deficit
-25,364	-25,364	-25,364	-25,364	-25,364	-25,364	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accumulated Deficit						-25,364	-25,364	-25,364	-25,364	-25,364	-25,364	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total UMH Properties, Inc. Shareholders’ Equity
891,888	907,196	926,413	933,758	914,195	915,909	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total UMH Properties, Inc. Shareholders’ Equity						891,888	907,196	926,413	933,758	914,195	915,909	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Non-Controlling Interest in Consolidated Subsidiaries
1,525	1,656	1,721	1,776	1,832	1,880	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Non-Controlling Interest in Consolidated Subsidiaries						1,525	1,656	1,721	1,776	1,832	1,880	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
1,712,923	1,699,036	1,629,535	1,624,022	1,549,306	1,563,728	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY						1,712,923	1,699,036	1,629,535	1,624,022	1,549,306	1,563,728	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx