Energy Transfer Partners

Live  

Energy Transfer Partners is a Dallas-based energy company founded in 1995. The company specializes in the transportation, storage, and distribution of natural gas, crude oil, and refined products.
The company operates an extensive network of pipelines, processing plants, and storage facilities in multiple states. Energy Transfer Partners also owns and operates several natural gas compression and treating facilities.
In addition to its primary focus on natural gas, crude oil, and refined products, Energy Transfer Partners also has investments in renewable energy sources such as wind and solar power. It also offers natural gas marketing and trading services.
Energy Transfer Partners is known for its strategic partnerships and acquisitions in the energy industry. In 2018, the company completed its merger with Energy Transfer Equity, creating one of the largest energy infrastructure companies in the United States.
The company has faced controversy and protests for its involvement in the construction of the Dakota Access Pipeline. However, Energy Transfer Partners has also received recognition for its commitment to environmental stewardship and community engagement.
Overall, Energy Transfer Partners is a leading player in the energy industry, with a strong focus on expanding its infrastructure and diversifying its portfolio to meet the growing demand for energy in the United States.

MS4gRG9taW 5hbnQgcGxh eWVyIGluIH RoZSBtaWRz dHJlYW0gZW 5lcmd5IHNl Y3RvcjogRW 5lcmd5IFRy YW5zZmVyIF BhcnRuZXJz IChFVFApIG lzIG9uZSBv ZiB0aGUgbG FyZ2VzdCBt aWRzdHJlYW 0gZW5lcmd5 IGNvbXBhbm llcyBpbiB0 aGUgd29ybG QsIHdpdGgg YSBwcm9taW 5lbnQgcHJl c2VuY2UgaW 4gY3J1ZGUg b2lsLCBuYX R1cmFsIGdh cywgYW5kIG 5hdHVyYWwg Z2FzIGxpcX VpZHMgKE5H THMpIHRyYW 5zcG9ydGF0 aW9uIGFuZC BzdG9yYWdl Ljxicj4yLi BFeHRlbnNp dmUgbmV0d2 9yayBvZiBw aXBlbGluZX MgYW5kIGFz c2V0czogRV RQIG93bnMg YW5kIG9wZX JhdGVzIG92 ZXIgNzEsMD AwIG1pbGVz IG9mIHBpcG VsaW5lcyBh bmQgMzQgbm F0dXJhbCBn YXMgcHJvY2 Vzc2luZyBw bGFudHMsIG 1ha2luZyBp dCBvbmUgb2 YgdGhlIGxh cmdlc3QgcG lwZWxpbmUg bmV0d29ya3 MgaW4gTm9y dGggQW1lcm ljYS48YnI+ My4gRGl2ZX JzaWZpZWQg cG9ydGZvbG lvOiBFVFAn cyBvcGVyYX Rpb25zIGFy ZSBub3QgbG ltaXRlZCB0 byBhIHNpbm dsZSB0eXBl IG9mIGVuZX JneSByZXNv dXJjZTsgaX QgaGFzIGEg ZGl2ZXJzZS Bwb3J0Zm9s aW8gdGhhdC BpbmNsdWRl cyBuYXR1cm FsIGdhcywg Y3J1ZGUgb2 lsLCBOR0xz LCBhbmQgcm VmaW5lZCBw cm9kdWN0cy 4gVGhpcyBo ZWxwcyBpbi ByZWR1Y2lu ZyB0aGUgcm lzayBvZiBm bHVjdHVhdG lvbnMgaW4g YW55IHBhcn RpY3VsYXIg bWFya2V0Lj xicj40LiBT dHJvbmcgcG FydG5lcnNo aXAgbW9kZW w6IEVUUCBo YXMgYSBwcm 92ZW4gdHJh Y2sgcmVjb3 JkIG9mIGZv cm1pbmcgc3 RyYXRlZ2lj IHBhcnRuZX JzaGlwcyB3 aXRoIGxlYW RpbmcgZW5l cmd5IGNvbX Bhbmllcywg YWxsb3dpbm cgaXQgdG8g ZXhwYW5kIG l0cyBvcGVy YXRpb25zIG FuZCBsZXZl cmFnZSBpdH MgYXNzZXRz IHRvIG1heG ltaXplIGdy b3d0aCBvcH BvcnR1bml0 aWVzLjxicj 41LiBJbm5v dmF0aXZlIH RlY2hub2xv Z3k6IFRoZS Bjb21wYW55 IGxldmVyYW dlcyB0ZWNo bm9sb2d5IH RvIG9wdGlt aXplIG9wZX JhdGlvbnMg YW5kIHJlZH VjZSBjb3N0 cy4gRm9yIG luc3RhbmNl LCBFVFAgaG FzIHV0aWxp emVkIGFkdm FuY2VkIGRy aWxsaW5nIH RlY2huaXF1 ZXMgdG8gY3 JlYXRlIHRo ZSBmaXJzdC BzdWNjZXNz ZnVsIHNoYW xlIGdhcyB3 ZWxsIGluIH RoZSBIYXlu ZXN2aWxsZS BTaGFsZS48 YnI+Ni4gQ2 9tbWl0bWVu dCB0byBzdX N0YWluYWJp bGl0eTogRV RQIGlzIGNv bW1pdHRlZC B0byByZXNw b25zaWJsZS BvcGVyYXRp b25zIGFuZC BhY3RpdmVs eSBmb2N1c2 VzIG9uIHJl ZHVjaW5nIH RoZSBlbnZp cm9ubWVudG FsIGltcGFj dCBvZiBpdH MgYnVzaW5l c3MgYWN0aX ZpdGllcy48 YnI+Ny4gU3 Ryb25nIGZp bmFuY2lhbC BwZXJmb3Jt YW5jZTogRV RQIGhhcyBj b25zaXN0ZW 50bHkgZGVs aXZlcmVkIH N0cm9uZyBm aW5hbmNpYW wgcGVyZm9y bWFuY2UsIH dpdGggYSB0 cmFjayByZW NvcmQgb2Yg aW5jcmVhc2 luZyByZXZl bnVlcyBhbm QgcHJvZml0 cy4gVGhpcy BoYXMgaGVs cGVkIHRoZS Bjb21wYW55 IGF0dHJhY3 QgaW52ZXN0 b3JzIGFuZC BtYWludGFp biBhIHN0YW JsZSBmaW5h bmNpYWwgcG 9zaXRpb24u PGJyPjguIE V4cGFuc2lv biB0aHJvdW doIGFjcXVp c2l0aW9ucz ogRVRQIGhh cyBhIGhpc3 Rvcnkgb2Yg c3VjY2Vzc2 Z1bCBhY3F1 aXNpdGlvbn MsIHdoaWNo IGhhdmUgaG VscGVkIHRo ZSBjb21wYW 55IGV4cGFu ZCBpdHMgcH Jlc2VuY2Ug aW4gbmV3IG 1hcmtldHMg YW5kIGRpdm Vyc2lmeSBp dHMgcG9ydG ZvbGlvLjxi cj45LiBDb2 1tdW5pdHkg aW52b2x2ZW 1lbnQ6IEVU UCBhY3Rpdm VseSBzdXBw b3J0cyBhbm QgaW52ZXN0 cyBpbiB0aG UgY29tbXVu aXRpZXMgd2 hlcmUgaXQg b3BlcmF0ZX MsIHRocm91 Z2ggdmFyaW 91cyBwaGls YW50aHJvcG ljIGluaXRp YXRpdmVzIG FuZCBwYXJ0 bmVyc2hpcH Mgd2l0aCBs b2NhbCBvcm dhbml6YXRp b25zLjxicj 4xMC4gRXhw ZXJpZW5jZW QgbWFuYWdl bWVudCB0ZW FtOiBFVFAg aXMgbGVkIG J5IGEgaGln aGx5IGV4cG VyaWVuY2Vk IG1hbmFnZW 1lbnQgdGVh bSB3aXRoIG EgcHJvdmVu IHRyYWNrIH JlY29yZCBv ZiBzdWNjZX NzZnVsbHkg bmF2aWdhdG luZyB0aGUg Y29tcGxleC BhbmQgZXZv bHZpbmcgZW 5lcmd5IGlu ZHVzdHJ5Li BUaGlzIGhh cyBoZWxwZW QgdGhlIGNv bXBhbnkgdG 8gYWRhcHQg dG8gY2hhbm dpbmcgbWFy a2V0IGNvbm RpdGlvbnMg YW5kIG1haW 50YWluIGl0 cyBjb21wZX RpdGl2ZSBl ZGdlLg==

VGhlIEVuZX JneSBUcmFu c2ZlciBQYX J0bmVycyBj b21wYW55IG lzIHByaW1h cmlseSBlbm dhZ2VkIGlu IHRoZSB0cm Fuc3BvcnRh dGlvbiwgc3 RvcmFnZSwg YW5kIG1hcm tldGluZyBv ZiBuYXR1cm FsIGdhcywg Y3J1ZGUgb2 lsLCBhbmQg cmVmaW5lZC Bwcm9kdWN0 cyBpbiB0aG UgVW5pdGVk IFN0YXRlcy 4gVGhleSBh bHNvIG9wZX JhdGUgYW5k IG1haW50YW luIG5hdHVy YWwgZ2FzIG FuZCBsaXF1 aWRzIHRyYW 5zcG9ydGF0 aW9uIGFuZC BzdG9yYWdl IGFzc2V0cy wgYXMgd2Vs bCBhcyBuYX R1cmFsIGdh cyBjb21wcm Vzc2lvbiBz ZXJ2aWNlcy 4gVGhlaXIg YnVzaW5lc3 MgbW9kZWwg aXMgZm9jdX NlZCBvbiBn ZW5lcmF0aW 5nIHJldmVu dWUgdGhyb3 VnaCB0aGUg dXRpbGl6YX Rpb24gb2Yg dGhlaXIgYX NzZXRzIGFu ZCBzZXJ2aW Nlcywgd2hp Y2ggaW5jbH VkZXMgdGhl IGdhdGhlcm luZywgcHJv Y2Vzc2luZy wgYW5kIHRy YW5zcG9ydG F0aW9uIG9m IG5hdHVyYW wgZ2FzLCBh bmQgdGhlIH RyYW5zcG9y dGF0aW9uIG FuZCBzdG9y YWdlIG9mIG NydWRlIG9p bCBhbmQgcm VmaW5lZCBw cm9kdWN0cy 4gVGhleSBh bHNvIGdlbm VyYXRlIGlu Y29tZSB0aH JvdWdoIHRo ZWlyIGVxdW l0eSBpbnZl c3RtZW50cy BpbiBvdGhl ciBlbmVyZ3 ktcmVsYXRl ZCBjb21wYW 5pZXMuIFRo ZWlyIHByaW 1hcnkgY3Vz dG9tZXJzIG luY2x1ZGUg bG9jYWwgZG lzdHJpYnV0 aW9uIGNvbX Bhbmllcywg ZWxlY3RyaW MgYW5kIGdh cyB1dGlsaX RpZXMsIGlu ZHVzdHJpYW wgZW5kLXVz ZXJzLCBhbm Qgb3RoZXIg bWFya2V0aW 5nIGNvbXBh bmllcy4gVG hlIGNvbXBh bnkgYWxzby BzdHJpdmVz IHRvIG1haW 50YWluIGEg c3Ryb25nIH BvcnRmb2xp byBvZiBhc3 NldHMgYW5k IHB1cnN1ZS BleHBhbnNp b24gb3Bwb3 J0dW5pdGll cyB0aHJvdW doIHN0cmF0 ZWdpYyBhY3 F1aXNpdGlv bnMgYW5kIH BhcnRuZXJz aGlwcy4=

Energy Transfer Partners’ earnings, cash flow, and valuation can be sensitive to changes in interest rates for several reasons:
1. Cost of Debt: Energy Transfer Partners typically relies on debt to finance its operations and growth. An increase in interest rates raises the cost of borrowing, which can lead to higher interest expenses. This directly impacts net earnings and cash flow.
2. Capital Expenditures: Higher interest rates can lead to increased financing costs for capital projects. If the company has to finance large capital expenditures through debt, higher rates might deter investment or force the company to delay projects, thereby affecting future cash flow and growth prospects.
3. Valuation Metrics: Interest rate changes can influence the discount rate used in discounted cash flow (DCF) valuation models. An increase in rates generally leads to a higher discount rate, which can reduce the present value of future cash flows and thus lower the company’s valuation.
4. Investor Sentiment: Rising interest rates can shift investor preference away from yield-sensitive stocks like Energy Transfer Partners, which may rely on dividends to attract investors. This can lead to selling pressure, decreasing the company’s stock price and impacting its market capitalization.
5. Economic Impact: Higher interest rates can potentially slow economic growth, which might reduce demand for energy and storage services provided by Energy Transfer Partners. This could affect both revenue and cash flow.
Overall, while Energy Transfer Partners may have mechanisms in place to manage interest rate risks, fluctuations in interest rates can still significantly impact its financial performance and valuation.

CiAgICAgIC AgICAgIDxk aXYgc3R5bG U9J3dpZHRo OiAxMDAlOy BkaXNwbGF5 OiBmbGV4Oy BqdXN0aWZ5 LWNvbnRlbn Q6IGNlbnRl cjsnPgogIC AgICAgICAg ICAgICAgPG RpdiBzdHls ZT0nCiAgIC AgICAgICAg ICAgICAgIC AgZGlzcGxh eTogZmxleD sKICAgICAg ICAgICAgIC AgICAgICBh bGlnbi1pdG VtczogY2Vu dGVyOwogIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICNm MGY0Zjg7Ci AgICAgICAg ICAgICAgIC AgICAgYm9y ZGVyOiAxcH ggc29saWQg I2QxZTNmMD sKICAgICAg ICAgICAgIC AgICAgICBi b3JkZXItcm FkaXVzOiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgIHBhZGRp bmc6IDEwcH g7CiAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luOi AyMHB4IDA7 CiAgICAgIC AgICAgICAg ICAgICAgZm 9udC1mYW1p bHk6ICJTZW dvZSBVSSIs IFJvYm90by wgc2Fucy1z ZXJpZjsKIC AgICAgICAg ICAgICAgIC AgICBib3gt c2hhZG93Oi AwIDJweCA2 cHggcmdiYS gwLCAwLCAw LCAwLjA1KT sKICAgICAg ICAgICAgIC AgICAgICBt YXgtd2lkdG g6IDkwMHB4 OwogICAgIC AgICAgICAg ICAgICAgIH dpZHRoOiAx MDAlOyc+Cg ogICAgICAg ICAgICAgIC AgICAgIDxp bWcgc3JjPS Jhc3NldHMv bG9nb3MvMD ZJTm1peGth dkp0ZHZ2Nj ZhVmsud2Vi cCIgYWx0PS JFbmVyZ3kg VHJhbnNmZX IgUGFydG5l cnMiIHRpdG xlPSJFbmVy Z3kgVHJhbn NmZXIgUGFy dG5lcnMiIC BjbGFzcz0i aW1nLWZsdW lkIiBoZWln aHQ9OTAgd2 lkdGg9OTAg bG9hZGluZz 0nbGF6eScg c3R5bGU9J2 JvcmRlci1y YWRpdXM6ID ZweDsnPgoK ICAgICAgIC AgICAgICAg ICAgICA8ZG l2IHN0eWxl PSdmbGV4Oi AxOyB0ZXh0 LWFsaWduOi BjZW50ZXI7 IG1hcmdpbi 1sZWZ0OiA1 cHg7Jz4KIC AgICAgICAg ICAgICAgIC AgICAgICAg PHAgc3R5bG U9J2ZvbnQt c2l6ZTogMj ZweDsgY29s b3I6ICMzMz M7IG1hcmdp bi1ib3R0b2 06IDE1cHg7 Jz4KICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IPCfk4ggV2 FudCB0byBy ZWFkIG1vcm UgYWJvdXQg RW5lcmd5IF RyYW5zZmVy IFBhcnRuZX JzPwogICAg ICAgICAgIC AgICAgICAg ICAgICA8L3 A+CgogICAg ICAgICAgIC AgICAgICAg ICAgICA8YS BocmVmPSdp bmRleC5waH A/cGFnZT1z aWdudXAnIH N0eWxlPScK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIGJh Y2tncm91bm QtY29sb3I6 ICMwMDdCRk Y7CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Bjb2xvcjog I2ZmZjsKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIHBhZG Rpbmc6IDEw cHggMjBweD sKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIG JvcmRlci1y YWRpdXM6ID VweDsKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIHRleHQt ZGVjb3JhdG lvbjogbm9u ZTsKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IGZvbnQtd2 VpZ2h0OiBi b2xkOwogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgbWFyZ2 luLXJpZ2h0 OiAxMHB4Ow ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgdH JhbnNpdGlv bjogYmFja2 dyb3VuZC1j b2xvciAwLj NzIGVhc2U7 JwogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg b25tb3VzZW 92ZXI9J3Ro aXMuc3R5bG UuYmFja2dy b3VuZENvbG 9yPSIjMDA1 NmIzIicKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIG9ubW 91c2VvdXQ9 J3RoaXMuc3 R5bGUuYmFj a2dyb3VuZE NvbG9yPSIj MDA3QkZGIi c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC BTaWduIHVw IGZvciBmcm VlCiAgICAg ICAgICAgIC AgICAgICAg ICAgIDwvYT 4KCiAgICAg ICAgICAgIC AgICAgICAg ICAgIDxzcG FuIHN0eWxl PSdtYXJnaW 46IDAgOHB4 OyBjb2xvcj ogIzU1NTsn Pm9yPC9zcG FuPgoKICAg ICAgICAgIC AgICAgICAg ICAgICAgPG EgaHJlZj0n aW5kZXgucG hwP3BhZ2U9 bG9naW4nIH N0eWxlPScK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIGNv bG9yOiAjMD A3QkZGOwog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgdGV4 dC1kZWNvcm F0aW9uOiB1 bmRlcmxpbm U7CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Bmb250LXdl aWdodDogNT AwOyc+CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBsb2cg aW4KICAgIC AgICAgICAg ICAgICAgIC AgICAgPC9h PgoKCiAgIC AgICAgICAg ICAgICAgIC AgICAgIDxw IHN0eWxlPS dtYXJnaW4t dG9wOiAxNX B4OyBmb250 LXNpemU6ID EzcHg7IGZv bnQtd2VpZ2 h0OiBib2xk OyBjb2xvcj ogI2QzMmYy ZjsnPgogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAg8J+RpS BGcmVlIGVC b29rIGZvci BuZXcgdXNl cnM6IDxpPi JUaGUgQ2hl Y2tsaXN0IF ZhbHVlIElu dmVzdG9yIO KAlCBBIFNt YXJ0ZXIgV2 F5IHRvIFBp Y2sgU3RvY2 tzIjwvaT4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgPC9wPgoK ICAgICAgIC AgICAgICAg ICAgICAgIC AgPCEtLQog ICAgICAgIC AgICAgICAg ICAgICAgIC A8ZGl2IHN0 eWxlPSdtYX JnaW4tdG9w OiAxMnB4Oy Bmb250LXNp emU6IDEzcH g7IGNvbG9y OiAjNDQ0Oy c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC BTaWduIHVw IG5vdyBhbm QgZ2V0IG91 ciBmcmVlIG VCb29rIAog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgPGI+ VGhlIENoZW NrbGlzdCBW YWx1ZSBJbn Zlc3RvciDi gJQgQSBTbW FydGVyIFdh eSB0byBQaW NrIFN0b2Nr czwvYj4KIC AgICAgICAg ICAgICAgIC AgICAgICAg PC9kaXY+Ci AgICAgICAg ICAgICAgIC AgICAgICAg IC0tPgogIC AgICAgICAg ICAgICAgIC AgICAgICA8 IS0tCiAgIC AgICAgICAg ICAgICAgIC AgICAgIDxk aXYgc3R5bG U9J21hcmdp bi10b3A6ID E2cHg7IGZv bnQtc2l6ZT ogMTRweDsg Y29sb3I6IC M0NDQ7IGZv bnQtZmFtaW x5OiAtYXBw bGUtc3lzdG VtLCBCbGlu a01hY1N5c3 RlbUZvbnQs IFNlZ29lIF VJLCBSb2Jv dG8sIEhlbH ZldGljYSBO ZXVlLCBzYW 5zLXNlcmlm OyBsaW5lLW hlaWdodDog MS42Oyc+Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBIYX ZlIHlvdSBo ZWFyZCBhYm 91dCBvdXIg c2hvcnQgPH N0cm9uZyBz dHlsZT0nZm 9udC13ZWln aHQ6IDYwMD snPkRhaWx5 IFZpZGVvIE 5ld3NsZXR0 ZXI8L3N0cm 9uZz4/CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICA8YSBo cmVmPSdodH RwczovL3d3 dy5pbnNpZ2 h0ZnVsdmFs dWUuY29tL2 5ld3NsZXR0 ZXIucGhwJy B0YXJnZXQ9 J19ibGFuay cgc3R5bGU9 J2NvbG9yOi AjMDA3QkZG OyB0ZXh0LW RlY29yYXRp b246IG5vbm U7IGZvbnQt d2VpZ2h0Oi A1MDA7IG1h cmdpbi1sZW Z0OiA2cHg7 Jz4KICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBGaW 5kIG91dCBt b3JlCiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICA8L2E+Ci AgICAgICAg ICAgICAgIC AgICAgICAg IDwvZGl2Pg ogICAgICAg ICAgICAgIC AgICAgICAg ICAtLT4KIC AgICAgICAg ICAgICAgIC AgICA8L2Rp dj4KICAgIC AgICAgICAg ICAgIDwvZG l2PgogICAg ICAgICAgIC A8L2Rpdj4K ICAgICAgIC AgICAgCiAg ICAgICAgCi AgICAgICAg PHNwYW4gY2 xhc3M9J2Js dXJyZWQtdG V4dCc+CiAg ICAgICAgIC AgIE1TNGdS VzVsY20gZD VJRlJ5WVc1 eiBabVZ5SU ZCaGNuIFJ1 WlhKeklDaE YgVkZBcElH bHpJRyBGdU lFRnRaWEpw IFkyRnVJRz VoZEggVnlZ V3dnWjJGei BJR0Z1WkNC d2NtIDl3WV c1bElHTnYg YlhCaGJua2 dZbSBGelpX UWdhVzRnIF JHRnNiR0Z6 TEMgQlVaWG hoY3k0ZyBT WFFnZDJGek lHIFp2ZFc1 a1pXUWcgYV c0Z01UazVO UyBCaGJtUW dhR0Z6IElH ZHliM2R1SU ggUnZJR0ps WTI5dCBaU0 J2Ym1VZ2Iy IFlnZEdobE lHeGggY21k bGMzUWdaVy A1bGNtZDVJ R2x1IFpuSm hjM1J5ZFcg TjBkWEpsSU dOdiBiWEJo Ym1sbGN5IE JwYmlCMGFH VWcgWTI5MW JuUnllUyA0 OFluSStNaT RnIFJWUlFJ RzkzYm4gTW dZVzVrSUc5 dyBaWEpoZE dWeklHIEVn ZG1GemRDQn UgWlhSM2Iz SnJJRyA5bU lIQnBjR1Zz IGFXNWxjeX dnYVcgNWpi SFZrYVc1bi BJSFJvWlNC c1lYIEpuWl hOMElHNWgg ZEhWeVlXd2 daMiBGeklI QnBjR1ZzIG FXNWxJR2x1 SUggUm9aU0 JWYm1sMCBa V1FnVTNSaG RHIFZ6TENC MGFHVWcgTV RBc01EQXdM VyAxcGJHVX RiRzl1IFp5 QlFZVzVvWV cgNWtiR1Vn UldGeiBkR1 Z5YmlCUWFY IEJsYkdsdV pTNDggWW5J K015NGdWRy BobElHTnZi WEJoIGJua2 dhR0Z6SUcg RWdiV0Z5YT JWMCBJR05o Y0dsMFlXIH hwZW1GMGFX OXUgSUc5bU lHOTJaWCBJ Z0pESXdJR0 pwIGJHeHBi MjRnWVcgNW tJR1Z0Y0d4 diBlWE1nYl c5eVpTIEIw YUdGdUlERX cgTERBd01D QndaVyA5d2 JHVXVQR0p5 IFBqUXVJRV ZVVUMgQnBj eUJoSUcxaC BhbTl5SUhC c1lYIGxsY2 lCcGJpQjAg YUdVZ1ZWTW daVyA1bGNt ZDVJR2x1IF pIVnpkSEo1 TEMgQjNhWF JvSUdKMSBj Mmx1WlhOek lHIGx1ZEdW eVpYTjAgY3 lCcGJpQnVZ WCBSMWNtRn NJR2RoIGN5 d2dZM0oxWk cgVWdiMmxz TENCaCBibV FnY21WbWFX IDVsWkNCd2 NtOWsgZFdO MGN5NGdTWC BRZ1lXeHpi eUJvIFlYTW djMmxuYm0g bG1hV05oYm 5RZyBhVzUy WlhOMGJXIF Z1ZEhNZ2FX NGcgY21WdV pYZGhZbSB4 bElHVnVaWE puIGVTd2dh VzVqYkggVm thVzVuSUhO diBiR0Z5SU dGdVpDIEIz YVc1a0lIQn YgZDJWeUxq eGljaiA0MU xpQkZWRkFn IGFYTWdkR2 hsSUggQmhj bVZ1ZENCai BiMjF3WVc1 NUlHIDltSU ZOMWJtOWog Ynl3Z1NXNW pMaSB3Z1lT QnNaV0ZrIG FXNW5JR1ox Wlcgd2daR2 x6ZEhKcCBZ blYwYjNJZ1 lXIDVrSUdO dmJuWmwgYm 1sbGJtTmxJ SCBOMGIzSm xJRzl3IFpY SmhkRzl5SU ggZHBkR2dn YjNabCBjaU ExTERBd01D IEJzYjJOaG RHbHYgYm5N Z1lXTnliMy BOeklIUm9a U0JWIGJtbD BaV1FnVTMg UmhkR1Z6TG p4aSBjajQy TGlCSmJpIE F5TURFNExD QkYgVkZBZ2 JXVnlaMiBW a0lIZHBkR2 dnIFlXNXZk R2hsY2kgQm xibVZ5WjNr ZyBZMjl0Y0 dGdWVTIHdn Ulc1bGNtZD UgSUZSeVlX NXpabSBWeU lFVnhkV2ww IGVTd2dkRz hnWm0gOXli U0JGYm1WeS BaM2tnVkhK aGJuIE5tWl hJZ1RGQXMg SUdOeVpXRj BhVyA1bklH OXVaU0J2IF ppQjBhR1Vn YkcgRnlaMl Z6ZENCbCBi bVZ5WjNrZ2 FXIDVtY21G emRISjEgWT NSMWNtVWdZ MiA5dGNHRn VhV1Z6IElH bHVJSFJvWl MgQjNiM0pz WkM0OCBZbk krTnk0Z1JW IFJRSUdoaG N5Qm0gWVdO bFpDQnphVy BkdWFXWnBZ MkZ1IGRDQm piMjUwY20g OTJaWEp6ZV NCaCBibVFn YkdWbllXIH dnWTJoaGJH eGwgYm1kbG N5Qm1iMyBJ Z2FYUnpJR2 x1IGRtOXNk bVZ0WlcgNT BJR2x1SUdO diBiblJ5Yj NabGNuIE5w WVd3Z2NHbH cgWld4cGJt VWdjSCBKdm FtVmpkSE1z IElITjFZMm dnWVggTWdk R2hsSUVSaC BhMjkwWVNC QlkyIE5sYz NNZ1VHbHcg Wld4cGJtVW dZVyA1a0lI Um9aU0JMIF pYbHpkRzl1 WlMgQllUQ0 JRYVhCbCBi R2x1WlM0OF luIEkrT0M0 Z1NXNGcgTW pBeU1Dd2dS ViBSUUlHTm 9ZVzVuIFpX UWdhWFJ6SU cgNWhiV1Vn ZEc4ZyBSVz VsY21kNUlG IFJ5WVc1el ptVnkgTENC eVpXWnNaVy BOMGFXNW5J R2wwIGN5Qm 1iMk4xY3kg QnZiaUJoSU dKeSBiMkZr WlhJZ2NtIE Z1WjJVZ2Iy WWcgWlc1bG NtZDVJSCBO dmRYSmpaWE 1zIElHbHVZ MngxWkcgbH VaeUJ5Wlc1 bCBkMkZpYk dVZ1pXIDVs Y21kNUxqeG kgY2o0NUxp QkVaWCBOd2 FYUmxJR2ww IGN5QnphWH BsSUcgRnVa Q0J6ZFdOai BaWE56TENC RlZGIEFnYU dGeklHWmgg WTJWa0lHWn BibSBGdVky bGhiQ0J6IG RISjFaMmRz WlggTWdhVz RnY21WaiBa VzUwSUhsbF lYIEp6TENC d2NtbHQgWV hKcGJIa2da SCBWbElIUn ZJR0VnIFpH VmpjbVZoYz IgVWdhVzRn YjJscyBJR0 Z1WkNCbllY IE1nY0hKcF kyVnogSUdG dVpDQmhJRy BocFoyZ2di R1YyIFpXd2 diMllnWkcg VmlkQzQ4WW 5JKyBNVEF1 SUVWVVVDIE JvWVhNZ1lT QnogZEhKdm JtY2dZMiA5 dGJXbDBiV1 Z1IGRDQjBi eUJ3YUcgbH NZVzUwYUhK diBjSGtnWV c1a0lHIGho Y3lCa2IyNW ggZEdWa0lH MXBiRyB4cG IyNXpJRzlt IElHUnZiR3 hoY24gTWdk RzhnWTJoaC BjbWwwWVdK c1pTIEJ2Y2 1kaGJtbDYg WVhScGIyNX pMQyBCcGJt TnNkV1JwIG JtY2dkR2h2 YzIgVWdabT lqZFhObCBa Q0J2YmlCbF pIIFZqWVhS cGIyNHMgSU dWamIyNXZi VyBsaklHUm xkbVZzIGIz QnRaVzUwTE MgQmhibVFn Wlc1MiBhWE p2Ym0xbGJu IFJoYkNCam IyNXogWlhK MllYUnBiMi A0dQogICAg ICAgIDwvc3 Bhbj4KICAg ICAgICAKIC AgICAgICA=
See Company Q&A