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0000950134-00-004265.hdr.sgml : 20000512
ACCESSION NUMBER: 0000950134-00-004265
CONFORMED SUBMISSION TYPE: 10-Q
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20000331
FILED AS OF DATE: 20000511
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: PERMIAN BASIN ROYALTY TRUST
CENTRAL INDEX KEY: 0000319654
STANDARD INDUSTRIAL CLASSIFICATION: OIL ROYALTY TRADERS [6792]
IRS NUMBER: 756280532
STATE OF INCORPORATION: TX
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 10-Q
SEC ACT:
SEC FILE NUMBER: 001-08033
FILM NUMBER: 626924
BUSINESS ADDRESS:
STREET 1: BANK OF AMERICA N A TRUST DEPARTMENT
STREET 2: P O BOX 1317 NK OF TEXAS NA TRUST DEPT
CITY: FT WORTH
STATE: TX
ZIP: 76102
BUSINESS PHONE: 8173906905
MAIL ADDRESS:
STREET 1: 1300 SUMMIT AVENUE SUITE 300
CITY: FORTH WORTH
STATE: TX
ZIP: 76102
10-Q
1
FORM 10-Q FOR QUARTER ENDED MARCH 31, 2000
1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
Quarterly Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
For the Quarterly Period Ended March 31, 2000
Commission File No. 1-8033
PERMIAN BASIN ROYALTY TRUST
Texas I.R.S. No. 75-6280532
Bank of America, N.A., Trust Department
P.O. Box 830650
Dallas, Texas 75283
Telephone Number 214.209.2400
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 and (2) has been subject to such filing requirements for
the past 90 days. Yes X No
--- ---
Number of Units of beneficial interest of the Trust outstanding at May 5, 2000:
46,608,796
2
PERMIAN BASIN ROYALTY TRUST
PART I - FINANCIAL STATEMENTS
Item 1. Financial Statements
The condensed financial statements included herein have been prepared by Bank of
America, N.A. as Trustee for the Permian Basin Royalty Trust, without audit,
pursuant to the rules and regulations of the Securities and Exchange Commission.
Certain information and footnote disclosures normally included in annual
financial statements have been condensed or omitted pursuant to such rules and
regulations, although the Trustee believes that the disclosures are adequate to
make the information presented not misleading. It is suggested that these
condensed financial statements be read in conjunction with the financial
statements and the notes thereto included in the Trust's latest annual report on
Form 10-K. In the opinion of the Trustee, all adjustments, consisting only of
normal recurring adjustments, necessary to present fairly the assets,
liabilities and trust corpus of the Permian Basin Royalty Trust at March
31,2000, and the distributable income and changes in trust corpus for the
three-month periods ended March 31, 2000 and 1999 have been included. The
distributable income for such interim periods is not necessarily indicative of
the distributable income for the full year.
Deloitte & Touche LLP, independent certified public accountants, has made a
limited review of the condensed financial statements as of March 31, 2000 and
for the three-month periods ended March 31, 2000 and 1999 included herein.
-2-
3
INDEPENDENT ACCOUNTANTS' REPORT
Bank of America, N.A. as Trustee
for the Permian Basin Royalty Trust:
We have reviewed the accompanying condensed statement of assets, liabilities and
trust corpus of the Permian Basin Royalty Trust as of March 31, 2000 and the
related condensed statements of distributable income and changes in trust corpus
for the three-month periods ended March 31, 2000 and 1999. These financial
statements are the responsibility of the Trustee.
We conducted our reviews in accordance with standards established by the
American Institute of Certified Public Accountants. A review of interim
financial information consists principally of applying analytical procedures to
financial data and making inquiries of persons responsible for financial and
accounting matters. It is substantially less in scope than an audit conducted in
accordance with generally accepted auditing standards, the objective of which is
the expression of an opinion regarding the financial statements taken as a
whole. Accordingly, we do not express such an opinion.
The accompanying condensed financial statements are prepared on a modified cash
basis as described in Note 1, which is a comprehensive basis of accounting other
than generally accepted accounting principles.
Based on our reviews, we are not aware of any material modifications that should
be made to such condensed financial statements for them to be in conformity with
the basis of accounting described in Note 1.
We have previously audited, in accordance with generally accepted auditing
standards, the statement of assets, liabilities and trust corpus of the Permian
Basin Royalty Trust as of December 31, 1999, and the related statements of
distributable income and changes in trust corpus for the year then ended (not
presented herein); and in our report dated March 25, 2000, we expressed an
unqualified opinion on those financial statements. In our opinion, the
information set forth in the accompanying condensed statement of assets,
liabilities and trust corpus as of December 31, 1999 is fairly stated, in all
material respects, in relation to the statement of assets, liabilities and trust
corpus from which it has been derived.
DELOITTE & TOUCHE LLP
May 10, 2000
-3-
4
PERMIAN BASIN ROYALTY TRUST
CONDENSED STATEMENTS OF ASSETS, LIABILITIES AND TRUST CORPUS
--------------------------------------------------------------------------------
March 31 December 31,
ASSETS 2000 1999
(Unaudited)
Cash and short-term investments $2,056,411 $ 2,415,245
Net overriding royalty interests in producing
oil and gas properties (net of accumulated
amortization of $8,163,762 and $8,085,238 at
March 31, 2000 and December 31, 1999, respectively) 2,811,453 2,889,978
---------- ------------
$4,867,864 $ 5,305,223
========== ============
LIABILITIES AND TRUST CORPUS
Distribution payable to Unit holders $2,056,411 $ 2,415,245
Commitments and contingencies
Trust corpus - 46,608,796 Units of beneficial
interest authorized and outstanding 2,811,453 2,889,978
---------- ------------
$4,867,864 $ 5,305,223
========== ============
CONDENSED STATEMENTS OF DISTRIBUTABLE INCOME (UNAUDITED)
Three Months Ended
March 31
2000 1999
----------- -----------
Royalty income $ 6,373,057 $ 1,775,960
Interest income 16,829 2,013
----------- -----------
6,389,886 1,777,973
General and administrative
expenditures 123,821 143,663
----------- -----------
Distributable income $ 6,266,065 $ 1,634,310
=========== ===========
Distributable income per Unit
(46,608,796 Units) $ .134440 $ .035064
=========== ===========
The accompanying notes to condensed financial statements
are an integral part of these statements.
-4-
5
PERMIAN BASIN ROYALTY TRUST
CONDENSED STATEMENTS OF CHANGES IN TRUST CORPUS (UNAUDITED)
--------------------------------------------------------------------------------
THREE MONTHS ENDED
MARCH 31
--------------------------
2000 1999
Trust corpus, beginning of period $ 2,889,978 $ 3,336,583
Amortization of net overriding
royalty interests (78,525) (54,982)
Distributable income 6,266,065 1,634,310
Distributions declared (6,266,065) (1,634,310)
----------- -----------
Total Trust Corpus $ 2,811,453 $ 3,281,601
=========== ===========
-5-
6
PERMIAN BASIN ROYALTY TRUST
NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)
--------------------------------------------------------------------------------
1. BASIS OF ACCOUNTING
The Permian Basin Royalty Trust ("Trust") was established as of November
1, 1980. The net overriding royalties conveyed to the Trust include: (1) a
75% net overriding royalty carved out of Southland Royalty Company's fee
mineral interests in the Waddell ranch in Crane County, Texas (the
"Waddell Ranch properties"); and (2) a 95% net overriding royalty carved
out of Southland Royalty Company's major producing royalty interests in
Texas (the "Texas Royalty properties"). The net overriding royalty for the
Texas Royalty properties is subject to the provisions of the lease
agreements under which such royalties were created. The financial
statements of the Trust are prepared on the following basis:
o Royalty income recorded for a month is the amount computed and paid to
Bank of America, N.A. ("Trustee") as Trustee for the Trust by the
interest owners: Burlington Resources Oil & Gas Company ("BROG") for
the Waddell Ranch properties and Riverhill Energy Corporation
("Riverhill Energy"), formerly a wholly owned subsidiary of Riverhill
Capital Corporation ("Riverhill Capital") and formerly an affiliate of
Coastal Management Corporation ("CMC"), for the Texas Royalty
properties. CMC currently conducts all field, technical and accounting
operations on behalf of BROG with regard to the Waddell Ranch
properties. CMC also conducts the accounting operations for the Texas
Royalty properties on behalf of Riverhill Energy. Royalty income
consists of the amounts received by the owners of the interest burdened
by the net overriding royalty interests ("Royalties") from the sale of
production less accrued production costs, development and drilling
costs, applicable taxes, operating charges, and other costs and
deductions multiplied by 75% in the case of the Waddell Ranch
properties and 95% in the case of the Texas Royalty properties.
As was previously reported, in February 1997, BROG sold its interest in
the Texas Royalty properties to Riverhill Energy.
The Trustee has been advised that in the first quarter of 1998,
Schlumberger Technology Corporation ("Schlumberger") acquired all of
the shares of stock of Riverhill Capital. Prior to such acquisition by
Schlumberger, CMC and Riverhill Energy were wholly owned subsidiaries
of Riverhill Capital. The Trustee has further been advised that in
connection with Schlumberger's acquisition of Riverhill Capital, the
shareholders of Riverhill Capital acquired ownership of all of the
shares of stock of Riverhill Energy. Thus, the ownership in the Texas
Royalty properties referenced above remained in Riverhill Energy, the
stock ownership of which was acquired by the former shareholders of
Riverhill Capital.
o Trust expenses recorded are based on liabilities paid and cash reserves
established out of cash received or borrowed funds for liabilities and
contingencies.
o Distributions to Unit holders are recorded when declared by the
Trustee.
o Royalty income is computed separately for each of the conveyances under
which the Royalties were conveyed to the Trust. If monthly costs exceed
revenues for any conveyance ("excess costs"), such excess cannot reduce
royalty income from other conveyances, but is carried forward with
accrued interest to be recovered from future net proceeds of that
conveyance (see Note 3).
The financial statements of the Trust differ from financial statements
prepared in accordance with generally accepted accounting principles
("GAAP") because revenues are not accrued in the month of production and
certain cash reserves may be established for contingencies which would not
be accrued
-6-
7
in financial statements prepared in accordance with GAAP. Amortization of
the Royalties calculated on a unit-of-production basis is charged directly
to trust corpus.
On July 5, 1999, NationsBank, N.A., Trustee of the Permian Basin Royalty
Trust, legally changed its name to Bank of America, N.A. On July 23, 1999,
Bank of America, N.A. (formerly known as NationsBank, N.A.) was merged
with and into Bank of America NT&SA, with the resulting entity being
called Bank of America, N.A. As a result, immediately following the close
of business on July 23, 1999, the remaining legal entity was Bank of
America, N.A. As a result of such merger, the Trustee of the Trust is Bank
of America, N.A., successor by merger to NationsBank, N.A.
2. FEDERAL INCOME TAXES
For Federal income tax purposes, the Trust constitutes a fixed investment
trust which is taxed as a grantor trust. A grantor trust is not subject to
tax at the trust level. The Unit holders are considered to own the Trust's
income and principal as though no trust were in existence. The income of
the Trust is deemed to have been received or accrued by each Unit holder
at the time such income is received or accrued by the Trust and not when
distributed by the Trust.
The Royalties constitute "economic interests" in oil and gas properties
for Federal income tax purposes. Unit holders must report their share of
the revenues of the Trust as ordinary income from oil and gas royalties
and are entitled to claim depletion with respect to such income.
The Trust has on file technical advice memoranda confirming the tax
treatment described above.
The classification of the Trust's income for purposes of the passive loss
rules may be important to a Unit holder. As a result of the Tax Reform Act
of 1986, royalty income will generally be treated as portfolio income and
will not offset passive losses.
3. EXCESS COSTS
In the calculation of royalty income for the months of June through
December 1998, costs exceeded revenues for the Waddell Ranch properties
underlying the Waddell Ranch Net Overriding Royalty Conveyance by
$1,218,732. Such excess costs were recovered from net proceeds of the
underlying Waddell Ranch properties during the first quarter of 1999 and
these properties are again contributing Trust royalty income.
******
-7-
8
ITEM 2. TRUSTEE'S DISCUSSION AND ANALYSIS
FORWARD LOOKING INFORMATION
Certain information included in this report contains, and other materials filed
or to be filed by the Trust with the Securities and Exchange Commission (as well
as information included in oral statements or other written statements made or
to be made by the Trust) may contain or include, forward looking statements
within the meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and Section 27A of the Securities Act of 1933, as amended. Such forward
looking statements may be or may concern, among other things, capital
expenditures, drilling activity, development activities, production efforts and
volumes, hydrocarbon prices and the results thereof, and regulatory matters.
Although the Trustee believes that the expectations reflected in such
forward-looking statements are reasonable, such expectations are subject to
numerous risks and uncertainties and the Trustee can give no assurance that they
will prove correct. There are many factors, none of which is within the
Trustee's control, that may cause such expectations not to be realized,
including, among other things, factors such as actual oil and gas prices and the
recoverability of reserves, capital expenditures, general economic conditions,
actions and policies of petroleum-producing nations and other changes in the
domestic and international energy markets. Such forward looking statements
generally are accompanied by words such as "estimate," "expect," "predict,"
"anticipate," "goal," "should," "assume," "believe," or other words that convey
the uncertainty of future events or outcomes.
-8-
9
THREE MONTHS ENDED MARCH 31, 2000 AND 1999
For the quarter ended March 31, 2000 royalty income received by the Trust
amounted to $6,373,057 compared to royalty income of $1,775,960 during the first
quarter of 1999. The increase in royalty income is primarily attributable to an
increase in average oil and gas prices as well as a decrease in allocated
capital expenditures compared to the first quarter of 1999. In the calculation
of royalty income for the months of July through December 1998, costs exceeded
revenues for the Waddell Ranch properties underlying the Waddell Ranch Net
Overriding Royalty Conveyance by $1,218,732. Such excess costs were recovered
from net proceeds of the underlying Waddell Ranch properties during the first
quarter of 1999 and these properties are again contributing trust royalty
income.
Interest income for the quarter ended March 31, 2000, was $16,829 compared to
$2,013 during the first quarter of 1999. The increase in interest income is
primarily attributable to an increase in funds available for investment. General
and administrative expenses during the first quarter of 2000 amounted to
$123,821 compared to $143,663 during the first quarter of 1999. The decrease in
general and administrative expenses can be primarily attributed to timing
differences in the receipt and payment of these expenses.
These transactions resulted in distributable income for the quarter ended March
31, 2000 of $6,266,065 or $.134440 per Unit of beneficial interest.
Distributions of $.044802, $.045517 and $.044121 per Unit were made to Unit
holders of record as of January 31, February 29 and March 31, 2000,
respectively. For the first quarter of 1999, distributable income was $1,634,310
or $.035064 per Unit of beneficial interest.
Royalty income for the Trust for the first quarter of the calendar year is
associated with actual oil and gas production for the period November and
December of 1999 and January 2000 from the properties from which the Trust's net
overriding royalty interests ("Royalties") were carved. Oil and gas sales
attributable to the Royalties and the properties from which the Royalties were
carved are as follows:
First Quarter
-----------------------
2000 1999
ROYALTIES:
Oil sales (Bbls) 198,848 123,698
Gas sales (Mcf) 720,243 435,162
PROPERTIES FROM WHICH THE ROYALTIES WERE CARVED:
Oil:
Total oil sales (Bbls) 375,389 454,626
Average per day (Bbls) 4,080 4,942
Average price per Bbl $ 23.64 $ 9.73
Gas:
Total gas sales (Mcf) 1,519,812 1,827,302
Average per day (Mcf) 16,520 19,862
Average price per Mcf $ 2.89 $ 1.81
The posted price of oil increased to an average price per barrel of $23.64 in
the first quarter of 2000, compared to $9.73 in the first quarter of 1999. The
Trustee has been advised by BROG that for the period August 1, 1993, through
March 31, 2000, the oil from the Waddell Ranch properties was being sold under a
competitive bid to a third party. The increase in the average price of gas from
$1.81 in the first quarter of 1999 to $2.89 in the first quarter of 2000 is
primarily attributable to an increase in the spot prices of natural gas.
Since the oil and gas sales attributable to the Royalties are based on an
allocation formula that is dependent on such factors as price and cost
(including capital expenditures), the production amounts in the Royalties
-9-
10
section of the above table do not provide a meaningful comparison. The oil and
gas sales from the properties from which the Royalties are carved decreased
slightly for the applicable period in 2000 compared to 1999.
Capital expenditures for drilling, remedial and maintenance activities on the
Waddell Ranch properties during the first quarter of 2000 totaled $1,717,000 as
compared to $460,000 for the first quarter of 1999. BROG has informed the
Trustee that the 2000 capital expenditures budget has been revised to $14.2
million for the Waddell Ranch. The total amount of capital expenditures for 1999
was $1.6 million. Through the first quarter of 2000, capital expenditures of
$1,717,000 have been expended.
The Trustee has been advised that there were no wells completed or in progress
during the three months ended March 31, 2000 on the Waddell Ranch properties.
For the three months ended March 31, 1999, there were 6 gross (2.63 net) wells
completed and there were no wells in progress.
Lease operating expense and property taxes totaled $2.9 million for the first
quarter of 2000, compared to $3.1 million in the first quarter of 1999 on the
Waddell Ranch properties. This decrease is primarily attributable to more
efficient field operations on the Waddell Ranch properties.
-10-
11
CALCULATION OF ROYALTY INCOME
The Trust's royalty income is computed as a percentage of the net
profit from the operation of the properties in which the Trust owns net
overriding royalty interests. These percentages of net profits are 75%
and 95% in the case of the Waddell Ranch properties and the Texas
Royalty properties, respectively. Royalty income received by the Trust
for the three months ended March 31, 2000 and 1999 respectively, were
computed as shown in the table below:
THREE MONTHS ENDED MARCH 31,
----------------------------------------------------
2000 1999
------------------------- ------------------------
WADDELL TEXAS WADDELL TEXAS
RANCH ROYALTY RANCH ROYALTY
PROPERTIES PROPERTIES PROPERTIES PROPERTIES
Gross proceeds of sales from
properties from which the net
overriding royalties were carved:
Oil proceeds $ 6,825,062 $ 2,048,059 $ 3,501,709 $ 922,501
Gas proceeds 3,715,046 682,670 2,968,380 342,195
Other revenues
----------- ----------- ----------- -----------
Total 10,540,108 2,730,729 6,470,089 1,264,696
----------- ----------- ----------- -----------
Less:
Severance tax:
Oil 277,353 78,399 143,676 34,099
Gas 235,367 26,117 221,447 20,485
Lease operating expense and
property tax:
Oil and gas 2,949,873 150,000 2,916,540 195,000
Capital expenditures 1,716,642 459,899
Other expense 21,412
----------- ----------- ----------- -----------
Total 5,179,235 254,516 3,762,974 249,584
----------- ----------- ----------- -----------
Net profits 5,360,873 2,476,213 2,707,115 1,015,112
Net overriding royalty interests 75% 95% 75% 95%
----------- ----------- ----------- -----------
2,030,336 964,356
4,020,655 2,352,402
Less: excess cost over revenues(a) 1,218,732
----------- ----------- ----------- -----------
Royalty income $ 4,020,655 $ 2,352,402 $ 811,604 $ 964,356
=========== =========== =========== ===========
-11-
12
(a) In calculating Trust royalty income for the months of July through
December 1998, costs exceeded revenues by $1,218,732 for the Waddell Ranch
properties underlying the Waddell Ranch Net Overriding Royalty Conveyance,
dated November 1, 1980. Excess costs from one conveyance cannot reduce
royalty income computed under another conveyance. Such excess costs were
recovered from net proceeds of the underlying Waddell Ranch properties
during the first quarter of 1999 and these properties are again
contributing trust royalty income.
ITEM 3. QUALITATIVE AND QUANTITATIVE DISCLOSURES ABOUT MARKET RISK
Not applicable.
-12-
13
PART II - OTHER INFORMATION
Items 1 through 5.
Not applicable.
Item 6. Exhibits and Reports on Form 8-K
(a) Exhibits
(4)(a) Permian Basin Royalty Trust Indenture dated
November 3, 1980, between Southland Royalty Company
(now Burlington Resources Oil & Gas Company) and
The First National Bank of Fort Worth (now Bank of
America, N.A.), as Trustee, heretofore filed as
Exhibit (4)(a) to the Trust's Annual Report on Form
10-K to the Securities and Exchange Commission for
the fiscal year ended December 31, 1980 is
incorporated herein by reference.
(4)(b) Net Overriding Royalty Conveyance (Permian Basin
Royalty Trust) from Southland Royalty Company (now
Burlington Resources Oil & Gas Company) to The
First National Bank of Fort Worth (now Bank of
America, N.A.), as Trustee, dated November 3, 1980
(without Schedules), heretofore filed as Exhibit
(4)(b) to the Trust's Annual Report on Form 10-K to
the Securities and Exchange Commission for the
fiscal year ended December 31, 1980 is incorporated
herein by reference.
(4)(c) Net Overriding Royalty Conveyance (Permian Basin
Royalty Trust - Waddell Ranch) from Southland
Royalty Company (now Burlington Resources Oil & Gas
Company) to The First National Bank of Fort Worth
(now Bank of America, N.A.), as Trustee, dated
November 3, 1980 (without Schedules), heretofore
filed as Exhibit (4)(c) to the Trust's Annual
Report on Form 10-K to the Securities and Exchange
Commission for the fiscal year ended December 31,
1980 is incorporated herein by reference.
(27) Financial Data Schedule
(b) Reports on Form 8-K
No reports were filed during the quarter ended March 31,
2000.
-13-
14
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.
BANK OF AMERICA, N.A.,
TRUSTEE FOR THE
PERMIAN BASIN ROYALTY TRUST
By /s/ RON E. HOOPER
--------------------------------
Ron E. Hooper
Vice President
Date: May 11, 2000
(The Trust has no directors or executive officers.)
-14-
15
INDEX TO EXHIBITS
Sequentially
Exhibit Numbered
Number Exhibit Page
(4)(a) Permian Basin Royalty Trust Indenture dated November
3, 1980, between Southland Royalty Company (now
Burlington Resources Oil & Gas Company) and The First
National Bank of Fort Worth (now Bank of America,
N.A.), as Trustee, heretofore filed as Exhibit (4)(a)
to the Trust's Annual Report on Form 10-K to the
Securities and Exchange Commission for the fiscal year
ended December 31, 1980 is incorporated herein by
reference.*
(b) Net Overriding Royalty Conveyance (Permian Basin
Royalty Trust) from Southland Royalty Company (now
Burlington Resources Oil & Gas Company) to The First
National Bank of Fort Worth (now Bank of America,
N.A.), as Trustee, dated November 3, 1980 (without
Schedules), heretofore filed as Exhibit (4)(b) to the
Trust's Annual Report on Form 10-K to the Securities
and Exchange Commission for the fiscal year ended
December 31, 1980 is incorporated herein by reference.*
(c) Net Overriding Royalty Conveyance (Permian Basin
Royalty Trust - Waddell Ranch) from Southland Royalty
Company (now Burlington Resources Oil & Gas Company)
to The First National Bank of Fort Worth (now Bank of
America, N.A.), as Trustee, dated November 3, 1980
(without Schedules), heretofore filed as Exhibit
(4)(c) to the Trust's Annual Report on Form 10-K to
the Securities and Exchange Commission for the fiscal
year ended December 31, 1980 is incorporated herein by
reference.*
(27) Financial Data Schedule **
* A copy of this Exhibit is available to any Unit holder, at the actual cost
of reproduction, upon written request to the Trustee, Bank of America, N.A.,
P. O. Box 830650, Dallas, Texas 75202.
** Filed herewith.
EX-27
2
FINANCIAL DATA SCHEDULE
5
3-MOS
DEC-31-2000
MAR-31-2000
2,056,411
0
0
0
0
2,056,411
10,975,216
8,163,762
4,867,864
2,056,411
0
0
0
0
2,811,453
4,867,864
6,373,057
6,389,886
0
0
123,821
0
0
6,266,065
0
6,266,065
0
0
0
6,266,065
0.13
0.13