Starhub

Discounted Cash Flow Analysis

EBIT
Less Cash Tax
NOPAT
Plus: Depreciation and Amortisation
Plus: Other Non-cash charges
Minus: CAPEX
Decrease/ (Increase) in Non-Cash Working Capital
Unlevered free cashflow
Discount Factor
Shares outstanding
WACC
NPV
Perpetuity Growth Method
Terminal Growth Rate
Enterprise Value (NPV + Terminal Value)
Equity Value
Fair value per share
Market value per share
Upside

17.0%

$
$
$
$
$
$
$
$

2013
419
71
348
260
71
-247
38
471
0.94

1718
5.96%
$ 2,061

1.0%

PV
$ 7,915
$ 9,975
$ 8,720
$ 5.08
$ 4.29
18.4%

$
$
$
$
$
$
$
$

2014
426
72
353
260
71
-247
38
476
0.89

$
$
$
$
$
$
$
$

2015
436
74
362
260
71
-247
38
485
0.84

$
$
$
$
$
$
$
$

2016
453
77
376
260
71
-247
38
499
0.79

$
$
$
$
$
$
$
$

2017
478
81
396
260
71
-247
38
519
0.75

Pretax Income
Tax Expense
% Tax Rate

Median Tax Rate

$
$

2008
2009
2010
2011
383 $
385 $
318 $
380
71 $
65 $
54 $
64
18.7%
17.0%
17.1%
16.9%

17.0%

$
$

2012
431
72
16.7%

Income Statement
Total Revenue
Mobile Service Revenue
Mobile Service Revenue Growth Rate
Pay TV Revenue
Pay TV Revenue Growth Rate
Fixed Network Service Revenue
Fixed Network Service Revenue Growth Rate
Broadband
Broadband Growth Rate
Sale of Equipment
Sale of Equipment Growth Rate
COGS
COGS Growth Rate
Gross Profit
Operating Expense
Operating Expense Growth Rate
EBIT
Interest Expense
Interest Expense Growth Rate
Pretax Income
Tax Expenses
Tax Expenses Growth Rate
Net Income

$
$

2008
2,128 $
1,079 $

398 $

300 $

253 $

97 $

782 $

$
$

1,345 $
933 $

$
$

413 $
30 $

$
$

383 $
71 $

311 $

2009
2,150
1,094
1.4%
405
1.8%
318
5.9%
241
-5.0%
93
-4.9%
830
6.0%
1,320
910
-2.4%
410
25
-15.4%
385
65
-8.4%
320

$
$
$
$
$
$
$
$
$
$
$
$
$
$

2010
2,238
1,181
8.0%
395
-2.5%
332
4.5%
236
-1.9%
93
0.8%
913
10.0%
1,325
984
8.1%
347
29
16.5%
318
54
-17.1%
263

$
$
$
$
$
$
$
$
$
$
$
$
$
$

2011
2,312
1,218
3.1%
376
-4.9%
337
1.5%
242
2.4%
140
50.1%
929
1.7%
1,384
1,013
2.9%
392
12
-58.8%
380
64
18.4%
316

$
$
$
$
$
$
$
$
$
$
$
$
$
$

2012
2,422
1,224
0.5%
396
5.4%
358
6.2%
249
3.2%
194
38.6%
1,011
8.9%
1,411
994
-1.9%
443
12
-0.8%
431
72
12.1%
359

$
$
$
$
$
$
$
$
$
$
$
$
$
$

2013F
2,505
1,252
2.2%
395
-0.3%
376
5.2%
250
0.3%
232
19.7%
1,086
7.5%
1,419
999
0.5%
419
11
-8.1%
408
73
1.9%
335

$
$
$
$
$
$
$
$
$
$
$
$
$
$

2014F
2,598
1,280
2.2%
394
-0.3%
396
5.2%
251
0.3%
278
19.7%
1,167
7.5%
1,430
1,005
0.5%
426
10
-8.1%
416
75
1.9%
341

$
$
$
$
$
$
$
$
$
$
$
$
$
$

2015F
2,701
1,308
2.2%
392
-0.3%
416
5.2%
251
0.3%
333
19.7%
1,254
7.5%
1,447
1,010
0.5%
436
9
-8.1%
427
76
1.9%
351

$
$
$
$
$
$
$
$
$
$
$
$
$
$

2016F
2,817
1,338
2.2%
391
-0.3%
438
5.2%
252
0.3%
398
19.7%
1,348
7.5%
1,469
1,015
0.5%
453
9
-8.1%
445
78
1.9%
367

$
$
$
$
$
$
$
$
$
$
$
$
$
$

2017F
2,947
1,368
2.2%
390
-0.3%
460
5.2%
253
0.3%
476
19.7%
1,449
7.5%
1,499
1,021
0.5%
478
8
-8.1%
470
79
1.9%
391

Balance Sheet (in Millions)

Assets
Cash and Cash Equivalent
Receivable
Inventories
Other Current Assets
Current Assets
Long-term Investments
Net PPE
Other Non-Current Assets
Total Assets
Liabilities and Shareholders' Equity
Short-term Borrowing
Accounts and Notes Payable
Others Current Liabilities
Total Current Liabilities
Long-term Liabilities
Others non-current Liabilities
Total Liabilities
Shareholders Equity
Retained Earnings & Other Equity
Total Equity
Total Liabilities and Shareholders' Equity

2008

2009

2010

2011

$
$
$
$
$
$
$
$
$

128
148
21
113
410
846
406
1,661

$
$
$
$
$
$
$
$
$

234
148
28
116
526
785
421
1,733

$
$
$
$
$
$
$
$
$

238
190
32
102
561
776
456
1,794

$
$
$
$
$
$
$
$
$

179
148
28
116
471
762
426
1,660

$
$
$
$
$
$
$
$
$
$
$

218
379
211
808
696
50
1,553
255
-147
108
1,661

$
$
$
$
$
$
$
$
$
$
$

290
419
216
925
605
76
1,607
258
-132
126
1,733

$
$
$
$
$
$
$
$
$
$
$

330
480
263
1,073
475
191
1,740
260
-206
54
1,794

$
$
$
$
$
$
$
$
$
$
$

75
490
338
903
588
210
1,701
263
-240
23
1,723

2012
$
$
$
$
$
$
$
$
$

312
154
28
124
618
791
400
1,809

$
$
$
$
$
$
$
$
$
$
$

785
95
879
688
198
1,765
263
-220
44
1,809

Appendix Cashflow
Cashflow from operations
Net income
Depreciation and Amortisation
Other Non Cash Charges
Changes in NCWC
Total cash from operations

2008

2009

2010

2011

2012

$
$
$
$
$

311
235
95
-72
570

$
$
$
$
$

320
245
71
33
669

$
$
$
$
$

263
260
118
64
705

$
$
$
$
$

316
278
50
38
681

$
$
$
$
$

359
273
-0.2
42
674

Cashflow from investing

Disposal of Fixed Assets
Capital Expenditures
Other Investing Activities
Total cash from investing

$
$
$
$

0.1
-220
-220

$
$
$
$

0.7
-231
-231

$
$
$
$

2.1
-272
-270

$
$
$
$

0.5
-247
-246

$
$
$
$

1.0
-273
-272

Cash flow from financing

Dividend paid
Change in Short-Term Borrowings
Increase in Long-Term Borrowings
Decrease in Long-term Borrowings
Increase in Capital Stocks
Decrease in Capital Stocks
Other Financing Activities
Total cash from financing

$
$
$
$
$
$
$
$

-308
-54
7.9
-5.8
-360

$
$
$
$
$
$
$
$

-317
200
-218
2.4
-332

$
$
$
$
$
$
$
$

-343
200
-290
2.2
-431

$
$
$
$
$
$
$
$

-343
188
-330
1.7
-9.1
-494

$
$
$
$
$
$
$
$

-343
80
-275
221
-2.3
51
-269

Net change in cash

-58 $

133

-10 $

106 $

3.3 $

Ticker
Company
Start Date
End Date
Periodicity
Currency
Filing Status Mnemonic
Filing
Units

STH SP Equity
StarHub Ltd

Field
For the period ending

Mnemonic

Revenue
Product/Brand Segments
Mobile Service Revenue
Pay TV Revenue
Fixed Network Service Revenue
Broadband
Sale of Equipment
Cost of Revenue
Cost of Equipment Sold
Cost of Services
Traffic Expenses
Gross Profit
Operating Expenses
Operating Income
Interest Expense
Pretax Income
Income Tax Expense
Income Before XO Items
Net Income

SALES_REV_TURN
SALES_REV_TURN

20011231
20141231
A
SGD
MR
Most Recent
MLN

IS_COGS_TO_FE_AND_PP_AND_G

GROSS_PROFIT
IS_OPERATING_EXPN
IS_OPER_INC
IS_INT_EXPENSE
PRETAX_INC
IS_INC_TAX_EXP
IS_INC_BEF_XO_ITEM
NET_INCOME

FY 2008
12/31/2008
original
2127.608
2127.61
1079.01
398.2
299.9
253.2
97.3
782.4
239.6
300.7
242.1
1345.208
932.557
412.651
29.853
382.798
71.479
311.319
311.319

FY 2009
FY 2010
FY 2011
FY 2012
FQ2 2013
FY 2013
FY 2014
12/31/2009 12/31/2010 12/31/2011 12/31/2012 6/30/2013 12/31/2013 12/31/2014
original
original
original
original
most recent most recent most recent
2150.041
2237.7
2312
2421.6
2407
2478.17
2559.83
2150.04
2237.4
2312
2421.6
1094
1181
1217.6
1224.2
405.45
395.4
376
396.3
317.53
331.7
336.7
357.7
240.5
236
241.7
249.4
92.57
93.3
140
194
829.7
912.8
928.5
1010.9
985.9
230.4
312.3
383.4
440.7
333.4
338.8
298.3
339.7
265.9
261.7
246.8
230.5
1320.341
1324.9
1383.5
1410.7
1421.1
1265.1
1323.43
909.945
984
1013
994
993.7
410.396
346.9
391.9
443.4
466.4
455.62
475.67
25.241
29.4
12.1
12
19.6
385.155
317.5
379.8
431.4
449.9
443.55
460.2
65.469
54.3
64.3
72.1
74
319.686
263.2
315.5
359.3
375.9
367
381
319.686
263.2
315.5
359.3
375.9
368.2
380.95

Ticker
Company
Start Date
End Date
Periodicity
Currency
Filing Status Mnemonic
Filing
Units

STH SP Equity
StarHub Ltd

Field
For the period ending

Mnemonic

20011231
20121231
A
SGD
MR
Most Recent
MLN

Assets

Cash & Near Cash Items

Short-Term Investments
Accounts & Notes Receivable
Inventories
Other Current Assets
Total Current Assets
LT Investments & LT Receivables
Net Fixed Assets
Gross Fixed Assets
Accumulated Depreciation
Other Long-Term Assets
Total Long-Term Assets
Total Assets
Product/Brand Segments
Unallocated Assets
Elimination
Telecommunications
Cable TV and Broadband
Internet, Interactive Multi-Media and Miscellaneous
Geographic Segments
Singapore

BS_CASH_NEAR_CASH_ITEM
BS_MKT_SEC_OTHER_ST_INVEST
BS_ACCT_NOTE_RCV
BS_INVENTORIES
BS_OTHER_CUR_ASSET
BS_CUR_ASSET_REPORT
BS_LT_INVEST
BS_NET_FIX_ASSET
BS_GROSS_FIX_ASSET
BS_ACCUM_DEPR
BS_OTHER_ASSETS_DEF_CHRG_OTHER
BS_TOT_NON_CUR_ASSET
BS_TOT_ASSET
BS_TOT_ASSET

BS_TOT_ASSET

Liabilities & Shareholders' Equity

Accounts Payable
Short-Term Borrowings
Other Short-Term Liabilities
Total Current Liabilities
Long-Term Borrowings
Other Long-Term Liabilities
Total Long-Term Liabilities
Total Liabilities
Product/Brand Segments
Loans

BS_ACCT_PAYABLE
BS_ST_BORROW
BS_OTHER_ST_LIAB
BS_CUR_LIAB
BS_LT_BORROW
BS_OTHER_LT_LIABILITIES
NON_CUR_LIAB
BS_TOT_LIAB2
BS_TOT_LIAB2

Unallocated Liabilities
Elimination
Telecommunications
Cable TV and Broadband
Internet, Interactive Multi-Media and Miscellaneous
Geographic Segments
Singapore
Total Preferred Equity
Minority Interest
Share Capital & APIC
Retained Earnings & Other Equity
Total Equity
Total Liabilities & Equity

BS_TOT_LIAB2
BS_PFD_EQY
MINORITY_NONCONTROLLING_INTEREST
BS_SH_CAP_AND_APIC
BS_RETAIN_EARN
TOTAL_EQUITY
TOT_LIAB_AND_EQY

Reference Items

Accounting Standard
Shares Outstanding
Number of Treasury Shares
Amount of Treasury Shares
Pension Obligations
Operating Leases
Capital Leases - Short Term
Capital Leases - Long Term
Capital Leases - Total
Number Of Shareholders
Options Granted During Period
Options Outstanding at Period End
Net Debt
Net Debt to Equity
Tangible Common Equity Ratio
Current Ratio
Cash Conversion Cycle
Inventory - Raw Materials
Inventory - Work in Progress
Inventory - Finished Goods
Other Inventory
Pure Retained Earnings
Goodwill
Investments in Associated Companies
Number of Employees

ACCOUNTING_STANDARD
BS_SH_OUT
BS_NUM_OF_TSY_SH
BS_AMT_OF_TSY_STOCK
BS_PENSION_RSRV
BS_FUTURE_MIN_OPER_LEASE_OBLIG
ST_CAPITAL_LEASE_OBLIGATIONS
LT_CAPITAL_LEASE_OBLIGATIONS
BS_TOTAL_CAPITAL_LEASES
BS_NUM_OF_SHAREHOLDERS
BS_OPTIONS_GRANTED
BS_OPTIONS_OUTSTANDING
NET_DEBT
NET_DEBT_TO_SHRHLDR_EQTY
TCE_RATIO
CUR_RATIO
CASH_CONVERSION_CYCLE
INVTRY_RAW_MATERIALS
INVTRY_IN_PROGRESS
INVTRY_FINISHED_GOODS
BS_OTHER_INV
BS_PURE_RETAINED_EARNINGS
BS_GOODWILL
BS_INVEST_IN_ASSOC_CO
NUM_OF_EMPLOYEES

FY 2001
FY 2002
FY 2003
FY 2004
FY 2005
FY 2006
FY 2007
FY 2008
12/31/2001 12/31/2002 12/31/2003 12/31/2004 12/31/2005 12/31/2006 12/31/2007 12/31/2008
original
original
original
restated
original
original
original
original
257.048
0
126.987
5.475
70.802
460.312
2.588
1158.6121
1673.219
514.607
307.892
1469.0921
1929.4041

66.936
0
116.293
4.391
65.132
252.752
1.873
1134.921
1925.8101
790.889
575.402
1712.196
1964.948

73.818
0
105.219
5.984
71.423
256.444
1.321
975.905
2014.54
1038.635
552.458
1529.684
1786.1281

126.653
0
108.145
6.351
103.494
344.643
0
919.739
2223.81
1304.071
478.322
1398.061
1742.704

174.477
0
116.571
13.117
106.18
410.345
0
957.443
2422.457
1465.014
472.611
1430.054
1840.399
1840.4
368.18
-66.77
1058.82
470.37
9.8
1840.4
1840.4

50.186
0
130.397
12.98
108.346
301.909
0
919.503
2550.495
1630.992
505.151
1424.654
1726.563
1726.56
385.71
-612.56
1482.72
439.24
31.45
1726.56
1726.56

137.975
0
128.836
19.848
94.971
381.63
0
893.97
2666.043
1772.073
443.89
1337.86
1719.49
1719.49
312.28
-123.79
1103.54
422.33
5.14
1719.49
1719.49

128.327
0
147.887
20.505
112.801
409.52
0
845.654
2822.672
1977.018
406.095
1251.749
1661.269
1661.27
245.39
-159.96
1181.78
382.92
11.15
1661.27
1661.27

238.063
3.504
559.417
800.984
426.453
136.105
562.558
1363.542

279.69
16.529
299.749
595.968
397.035
34.465
431.5
1027.468

322.208
30.966
153.508
506.682
355.528
29.906
385.434
892.116

349.175
73.527
189.97
612.672
246
25.666
271.666
884.338

388.619
110.5
178.651
677.77
132.5
53.224
185.724
863.494
863.49

388.249
0
155.042
543.291
633
62.787
695.787
1239.078
1239.08

416.469
124.32
178.635
719.424
843.68
48.729
892.409
1611.833
1611.83
968

379.119
217.892
210.899
807.91
695.787
49.519
745.306
1553.216
1553.22
913.68

0
0.824
551.749
13.289
565.862
1929.404

0
0.607
837.255
99.618
937.48
1964.948

0
0.624
839.697
53.691
894.012
1786.128

0
0
857.118
1.248
858.366
1742.704

31.41
-347.27
451.23
726.35
1.77
863.49
863.49
0
0
873.261
103.644
976.905
1840.399

44.24
-612.56
1014.26
790.82
2.32
1239.08
1239.08
0
0
236.403
251.082
487.485
1726.563

33.95
-123.79
461.13
270.47
2.08
1611.83
1611.83
0
0
247.207
-139.55
107.657
1719.49

38.81
-159.96
476.7
281.98
2
1553.22
1553.22
0
0
255.116
-147.063
108.053
1661.269

SG GAAP
SG GAAP
SG GAAP
SG GAAP
SG GAAP
SG GAAP
SG GAAP
SG GAAP
4333.9375 6573.7482 6584.6254 1664.0699 1679.0307 1696.0717
1699.776 1709.7489
0
0
0 #N/A N/A
#N/A N/A
0
5.517
2.2031
0
0
0 #N/A N/A
#N/A N/A
0
16.223
6
0
0
0
0
0
0
0
0
552.707
829.745
752.07
736.487
678.102
617.682
629.388
567.345
0.504
0.529
0.466 #N/A N/A
0
0
0
0
1.453
1.035
0.028
0
0
0
0
0
1.957
1.564
0.494 #N/A N/A
0
0
0
0
#N/A N/A
#N/A N/A
#N/A N/A
14149
6347
5627
5905
7751
27.6159
113.3668
61.8186
14.5161
11.6647 #N/A N/A
0
0
64.4539
168.1231
210.2632
45.3931
38.7742
23.6133
14.961
8.044
172.909
346.628
312.676
192.874
68.523
582.814
830.025
785.352
30.5567
36.9744
34.9745
22.4699
7.0143
119.5553
770.9903
726.8211
22.4029
33.5142
36.1401
37.0522
42.9209
10.6537
-17.8601
-21.3192
0.5747
0.4241
0.5061
0.5625
0.6054
0.5557
0.5305
0.5069
#N/A N/A
-431.135 -438.0505 -233.1113 -234.8556 -222.5794 -176.8621 -152.6886
0
0
0 #N/A N/A
#N/A N/A
0 #N/A N/A
#N/A N/A
0
0
0 #N/A N/A
#N/A N/A
0 #N/A N/A
#N/A N/A
0
0
0 #N/A N/A
#N/A N/A
0 #N/A N/A
#N/A N/A
5.475
4.391
5.984
6.351
13.117
12.98 #N/A N/A
#N/A N/A
-132.232
-29.526
-75.453
-130.894
-35.892
107.807
135.342
139.005
0
258.874
241.021
223.168
223.168
220.292
220.292
220.292
0.847
0
0
0
0
0
0
0
2651
2680
2755
2702 #N/A N/A
2670 #N/A N/A
#N/A N/A

FY 2009
FY 2010
FY 2011
FY 2012
12/31/2009 12/31/2010 12/31/2011 12/31/2012
original
original
original
original
234.193
0
147.946
28.195
116.091
526.425
0
785.133
2910.884
2125.751
421.053
1206.186
1732.611

237.5
0
190.4
31.8
101.7
561.4
0
776
3083.6
2307.6
456.1
1232.1
1793.5

179.2
0
169.2
37.2
149.2
534.8
0
761.9
3173.7
2411.8
426.4
1188.3
1723.1

312
0
154.3
28.1
123.6
618
0
791.1
3352.1
2561
399.5
1190.6
1808.6

419.222
290.392
215.852
925.466
605.395
75.934
681.329
1606.795

479.5
330.4
263.2
1073.1
475
191.4
666.4
1739.5

490
75
338.3
903.3
587.5
209.7
797.2
1700.5

784.6
0
94.6
879.2
687.5
198.4
885.9
1765.1

0
0
257.514
-131.698
125.816
1732.611

0
0
260.3
-206.3
54
1793.5

0
0
262.8
-240.2
22.6
1723.1

0
0
263.1
-219.6
43.5
1808.6

SG GAAP
1712.834
1.092
2.974
0
502.742
0
0
0
14688
0
5.996
661.594
525.8425
-22.0157
0.5688
-138.1668
#N/A N/A
#N/A N/A
#N/A N/A
#N/A N/A
141.981
220.292
0
#N/A N/A

IAS/IFRS
1716.8522
0.0127
0.1
0
453.2
0
0
0
14179
0
4.011
567.9
1051.6667
-29.6296
0.5232
-139.3889
0
0
#N/A N/A
#N/A N/A
62.1
220.3
0
#N/A N/A

IAS/IFRS
1717.3
1.976
5.5
0
389
0
0
0
14614
0
2.731
483.3
2138.4956
-30.858
0.5921
-147.5093
#N/A N/A
#N/A N/A
#N/A N/A
#N/A N/A
34.3
220.3
0
#N/A N/A

IAS/IFRS
1718.4235
0.0728
0.2
0
322.4
0
0
0
13059
0
1.571
375.5
863.2184
-25.0425
0.7029
-196.5648
#N/A N/A
#N/A N/A
#N/A N/A
#N/A N/A
50.2
220.3
0
#N/A N/A

Ticker
Company
Start Date
End Date
Periodicity
Currency
Filing Status Mnemonic
Filing
Units

STH SP Equity
StarHub Ltd

Field
For the period ending

Mnemonic

20011231
20130630
A
SGD
MR
Most Recent
MLN

Cash From Operating Activities

Net Income
Depreciation & Amortization
Other Non-Cash Adjustments
Changes in Non-Cash Capital
Cash From Operations

CF_NET_INC
CF_DEPR_AMORT
CF_OTHER_NON_CASH_ADJUST
CF_CHNG_NON_CASH_WORK_CAP
CF_CASH_FROM_OPER

Cash From Investing Activities

Disposal of Fixed Assets

Capital Expenditures
Product/Brand Segments
Elimination
Telecommunications
Cable TV and Broadband
Internet, Interactive Multi-Media and Miscellaneous
Geographic Segments
Singapore
Increase in Investments
Decrease in Investments
Other Investing Activities
Cash From Investing Activities

CF_DISP_FIX_ASSET
CF_CAP_EXPEND_PRPTY_ADD
CF_CAP_EXPEND_PRPTY_ADD

CF_CAP_EXPEND_PRPTY_ADD
CF_INCR_INVEST
CF_DECR_INVEST
CF_OTHER_INV_ACT
CF_CASH_FROM_INV_ACT

Cash from Financing Activities

Dividends Paid
Change in Short-Term Borrowings
Increase in Long-Term Borrowings
Decrease in Long-term Borrowings
Increase in Capital Stocks
Decrease in Capital Stocks
Other Financing Activities
Cash from Financing Activities
Net Changes in Cash

CF_DVD_PAID
CF_INCR_ST_BORROW
CF_INCR_LT_BORROW
CF_REIMB_LT_BORROW
CF_INCR_CAP_STOCK
CF_DECR_CAP_STOCK
CF_OTHER_FNC_ACT
CF_CASH_FROM_FNC_ACT
CF_NET_CHNG_CASH

Reference Items

EBITDA

EBITDA

Trailing 12M EBITDA Margin

Cash Paid for Taxes
Cash Paid for Interest
Interest Received
Free Cash Flow
Free Cash Flow to Firm
Free Cash Flow to Equity
Free Cash Flow per Basic Share
Price to Free Cash Flow
Cash Flow to Net Income

EBITDA_MARGIN
CF_CASH_PAID_FOR_TAX
CF_ACT_CASH_PAID_FOR_INT_DEBT
CF_INTEREST_RECEIVED
CF_FREE_CASH_FLOW
CF_FREE_CASH_FLOW_FIRM
FREE_CASH_FLOW_EQUITY
FREE_CASH_FLOW_PER_SH
PX_TO_FREE_CASH_FLOW
CASH_FLOW_TO_NET_INC

FY 2001
FY 2002
FY 2003
FY 2004
FY 2005
FY 2006
FY 2007
FY 2008
12/31/2001 12/31/2002 12/31/2003 12/31/2004 12/31/2005 12/31/2006 12/31/2007 12/31/2008
original
original
original
restated
original
original
original
original
-28.165
247.104
-321.012
54.424
-47.649

81.637
313.602
-311.547
51.878
135.57

-53.495
332.986
-70.076
41.177
250.592

-54.689
339.607
45.056
-7.05
322.924

221.403
203.798
39.478
29.593
494.272

360.172
211.043
16.117
-9.839
577.493

330.339
226.12
89.248
31.504
677.211

311.319
235.125
95.467
-72.084
569.827

0.104
-462.68

0.166
-314.596

2.229
-221.311

0.569
-220.557

9.142
-247.595
-200.3
-133.95
-66.35

2.121
-212.886
-219.91
-0.23
-172.73
-46.95

0.146
-219.768
-222.17
-0.3
-163.94
-57.93

-200.3
-200.3
0
0
0
-238.453

-219.45
-219.45
0
0
0
-210.765

-221.58
-221.58
0
0
0
-219.622

0
0
-1.178
-463.754

0
0
3.813
-310.617

0
0
0
-219.082

0
0
-0.628
-220.616

0.292
-247.663
-236.96
-0.07
-167.32
-69.51
-0.06
-236.81
-236.81
0
0
0
-247.371

0
0
75
-94.561
1.126
0
0
-18.435
-529.838

0
0
170.4
-186.793
1.328
0
0
-15.065
-190.112

0
0
99
-126.07
2.442
0
0
-24.628
6.882

0
0
36
-102.894
17.421
0
0
-49.473
52.835

-138.693
0
17
-93.527
16.143
0
0
-199.077
47.824

-216.473
0
633
-243
18.82
-655.678
0
-463.331
-124.291

-265.942
0
335
0
10.804
-458.519
0
-378.657
87.789

-307.656
0
0
-54.321
7.909
-5.785
0
-359.853
-9.648

239.369

411.076

299.369

330.003

461.58

564.961

639.6104

647.776

30.7805
#N/A N/A
16.105
#N/A N/A
-510.329
#N/A N/A
#N/A N/A
-0.3421
#N/A N/A
-0.8896

45.0815
#N/A N/A
15.525
#N/A N/A
-179.026
#N/A N/A
-195.253
-0.1142
#N/A N/A
1.32

26.7726
#N/A N/A
14.239
#N/A N/A
29.281
#N/A N/A
4.44
0.0178
#N/A N/A
#N/A N/A

24.3508
29.3865
31.3038
31.7631
30.4462
#N/A N/A
#N/A N/A
0
0
-0.269
16.242
14.183
10.785
22.093
28.517
#N/A N/A
#N/A N/A
#N/A N/A
#N/A N/A
#N/A N/A
102.367
246.609
329.898
464.325
350.059
#N/A N/A
257.2596 #N/A N/A
486.361
372.2638
36.042
170.374
729.04
801.446
295.884
0.0617
0.1475
0.1758
0.2632
0.2055
22.6727
17.6863
16.3162
10.6773
9.4396
#N/A N/A
2.2324
1.6034
2.05
1.8304

FY 2009
FY 2010
FY 2011
FY 2012
FQ2 2013
12/31/2009 12/31/2010 12/31/2011 12/31/2012
6/30/2013
original
original
original
original
most recent
319.686
245.079
71.445
32.597
668.807

263.2
259.5
118.4
63.5
704.6

315.5
277.8
49.7
38.3
681.3

359.3
272.5
-0.2
42
673.6

375.9
271.2
-32.51
7.5
622.09

0.66
-231.397

2.1
-272.1

0.5
-246.5

1
-272.7

0.8
-311.6

0
0
0
-230.737

0
0
0
-270

0
0
0
-246

0
0
0
-271.7

0
0
0
-310.8

-316.71
0
200
-217.892
2.398
0
0
-332.204
105.866

-343.1
0
200
-290.4
2.2
0
0
-431.3
3.3

-343.3
-343.4
0 #N/A N/A
187.5
80
-330.4
-275
1.7
221.1
-9.1
-2.3
0
50.5
-493.6
-269.1
-58.3
132.8

-343.9

655.475

606.4

669.7

715.9

230
-200
1.1
0
19.4
-293.4
17.89

737.6

30.4866
27.0993
0
0
24.391
26.8
#N/A N/A
#N/A N/A
437.41
432.5
457.3744
454.5508
420.178
344.2
0.2555
0.2521
8.414
10.4306
2.0921
2.6771

28.9663
0
21.8
2
434.8
451.8294
292.4
0.2534
11.4861
2.1594

29.5631
54
19.9
4
400.9
417.5574
206.9
0.2335
16.2302
1.8748

30.64
77.9
19.2
310.49
326.89
341.29
0.18
24.02
1.52