Brown Brown Insurance

-16.67%

Live  

Brown Brown Insurance is a national insurance brokerage firm that provides a wide range of insurance products and services for individuals, businesses, and organizations. The company was founded in 1939 and is headquartered in Daytona Beach, Florida. Brown Brown has over 10,000 employees and operates more than 300 offices in the United States, with additional offices in Canada and the United Kingdom.
Services and products offered by Brown Brown Insurance include property and casualty insurance, employee benefits, personal insurance, risk management consulting, and specialty programs for industries such as construction, healthcare, and transportation. The company works with over 250 insurance carriers to provide customized insurance solutions for its clients.
Brown Brown prides itself on its personalized approach to insurance, with a team of knowledgeable and experienced professionals who work closely with clients to understand their needs and find the best coverage options for them. The company also emphasizes its commitment to customer service and building long-term relationships with clients.
Brown Brown has received numerous awards and recognition for its services, including being named one of the "World's Most Ethical Companies" by the Ethisphere Institute and being included in Forbes' "America's Best Employers" list.
In addition to its insurance services, Brown Brown also supports various charitable and community organizations through its philanthropic arm, the Brown Brown Foundation. The company also encourages its employees to volunteer and give back to their local communities.

VGhlcmUgYX JlIGEgZmV3 IHBvdGVudG lhbCBmYWN0 b3JzIHRoYX QgY291bGQg bWFrZSB0aG UgQnJvd24g QnJvd24gSW 5zdXJhbmNl IGNvbXBhbn kgdW5pcXVl IG9yIHNwZW NpYWwuIFRo ZXNlIG1heS BpbmNsdWRl Ojxicj4xLi BIaXN0b3J5 IGFuZCBSZX B1dGF0aW9u OiBCcm93bi BCcm93biBJ bmMuIHdhcy Bmb3VuZGVk IGluIDE5Mz kgYW5kIGhh cyBhIGxvbm ctc3RhbmRp bmcgcmVwdX RhdGlvbiBp biB0aGUgaW 5zdXJhbmNl IGluZHVzdH J5LiBUaGUg Y29tcGFueS BoYXMgcmVj ZWl2ZWQgYX dhcmRzIGFu ZCByZWNvZ2 5pdGlvbiBm b3IgaXRzIH BlcmZvcm1h bmNlIGFuZC BzZXJ2aWNl Ljxicj4yLi BOYXRpb25h bCBQcmVzZW 5jZTogQnJv d24gQnJvd2 4gaXMgb25l IG9mIHRoZS BsYXJnZXN0 IGluZGVwZW 5kZW50IGlu c3VyYW5jZS BpbnRlcm1l ZGlhcmllcy BpbiB0aGUg VW5pdGVkIF N0YXRlcywg d2l0aCBvZm ZpY2VzIGlu IG11bHRpcG xlIHN0YXRl cyBhbmQgYS BzdHJvbmcg bmF0aW9uYW wgcHJlc2Vu Y2UuPGJyPj MuIERpdmVy c2UgU2Vydm ljZXMgYW5k IEV4cGVydG lzZTogVGhl IGNvbXBhbn kgb2ZmZXJz IGEgd2lkZS ByYW5nZSBv ZiBpbnN1cm FuY2UgYW5k IHJpc2sgbW FuYWdlbWVu dCBzZXJ2aW NlcywgaW5j bHVkaW5nIH Byb3BlcnR5 IGFuZCBjYX N1YWx0eSwg ZW1wbG95ZW UgYmVuZWZp dHMsIHByb2 Zlc3Npb25h bCBsaWFiaW xpdHksIGFu ZCBwZXJzb2 5hbCBsaW5l cyBpbnN1cm FuY2UuIFRo aXMgZGl2ZX JzZSBwb3J0 Zm9saW8gYW xsb3dzIHRo ZSBjb21wYW 55IHRvIHBy b3ZpZGUgY2 9tcHJlaGVu c2l2ZSBzb2 x1dGlvbnMg dG8gaXRzIG NsaWVudHMu PGJyPjQuIE NsaWVudC1G b2N1c2VkIE FwcHJvYWNo OiBCcm93bi BCcm93biBo YXMgYSBjbG llbnQtZm9j dXNlZCBhcH Byb2FjaCwg d2l0aCBhIG NvbW1pdG1l bnQgdG8gYn VpbGRpbmcg bG9uZy10ZX JtIHJlbGF0 aW9uc2hpcH MgYW5kIHBy b3ZpZGluZy BwZXJzb25h bGl6ZWQgc2 VydmljZSB0 byBtZWV0IG VhY2ggY2xp ZW50J3MgdW 5pcXVlIG5l ZWRzLjxicj 41LiBFbnRy ZXByZW5ldX JpYWwgQ3Vs dHVyZTogVG hlIGNvbXBh bnkncyBjdW x0dXJlIGlz IGRyaXZlbi BieSBlbnRy ZXByZW5ldX JzaGlwLCBp bm5vdmF0aW 9uLCBhbmQg YSBmb2N1cy BvbiBncm93 dGguIFRoaX MgYWxsb3dz IGl0IHRvIH N0YXkgYWdp bGUgYW5kIG FkYXB0IHF1 aWNrbHkgdG 8gY2hhbmdl cyBpbiB0aG UgaW5kdXN0 cnkgYW5kIG NsaWVudHMn IG5lZWRzLj xicj42LiBU ZWNobm9sb2 d5IGFuZCBE aWdpdGFsIF Rvb2xzOiBC cm93biBCcm 93biBoYXMg aW52ZXN0ZW QgaW4gdGVj aG5vbG9neS BhbmQgZGln aXRhbCB0b2 9scyB0byBl bmhhbmNlIH RoZSBjbGll bnQgZXhwZX JpZW5jZSwg bWFrZSBwcm 9jZXNzZXMg bW9yZSBlZm ZpY2llbnQs IGFuZCBpbX Byb3ZlIGNv bW11bmljYX Rpb24gYW5k IGNvbGxhYm 9yYXRpb24g d2l0aCBjbG llbnRzLjxi cj43LiBDb2 1tdW5pdHkg SW52b2x2ZW 1lbnQ6IFRo ZSBjb21wYW 55IGlzIGNv bW1pdHRlZC B0byBnaXZp bmcgYmFjay B0byB0aGUg Y29tbXVuaX R5IHRocm91 Z2ggdmFyaW 91cyBjaGFy aXRhYmxlIG VmZm9ydHMg YW5kIHZvbH VudGVlcmlu ZyBpbml0aW F0aXZlcywg d2hpY2ggbW F5IGJlIGNv bnNpZGVyZW QgYSBzcGVj aWFsIGFzcG VjdCBvZiB0 aGVpciBvcG VyYXRpb25z Lg==

QnJvd24gQn Jvd24gSW5z dXJhbmNlIG NvbXBhbnkn cyBidXNpbm VzcyBtb2Rl bCBpcyB0by Bwcm92aWRl IGluc3VyYW 5jZSBzb2x1 dGlvbnMgZm 9yIGluZGl2 aWR1YWxzIG FuZCBidXNp bmVzc2VzIH Rocm91Z2gg YSBuZXR3b3 JrIG9mIGlu ZGVwZW5kZW 50IGFnZW50 cyBhbmQgYn Jva2Vycy4g VGhleSBvZm ZlciBhIHdp ZGUgcmFuZ2 Ugb2YgaW5z dXJhbmNlIH Byb2R1Y3Rz IGFuZCBzZX J2aWNlcywg aW5jbHVkaW 5nIHBlcnNv bmFsIGluc3 VyYW5jZSwg Y29tbWVyY2 lhbCBpbnN1 cmFuY2UsIG VtcGxveWVl IGJlbmVmaX RzLCBhbmQg cmlzayBtYW 5hZ2VtZW50 IHNvbHV0aW 9ucy4gVGhl aXIgYnVzaW 5lc3MgbW9k ZWwgaXMgZm 9jdXNlZCBv biBidWlsZG luZyBzdHJv bmcgcmVsYX Rpb25zaGlw cyB3aXRoIH RoZWlyIGNs aWVudHMgYW 5kIHByb3Zp ZGluZyBwZX Jzb25hbGl6 ZWQsIHRhaW xvcmVkIGlu c3VyYW5jZS Bzb2x1dGlv bnMgdG8gbW VldCB0aGVp ciBzcGVjaW ZpYyBuZWVk cy4gVGhleS BhbHNvIGVt cGhhc2l6ZS BjdXN0b21l ciBzZXJ2aW NlIGFuZCBh aW0gdG8gcH JvdmlkZSB0 aW1lbHkgYW 5kIGVmZmlj aWVudCBpbn N1cmFuY2Ug c2VydmljZX MuIEFkZGl0 aW9uYWxseS wgdGhleSBt YWludGFpbi BhIHN0cm9u ZyBmaW5hbm NpYWwgcG9z aXRpb24gYW 5kIGVtcGxv eSByaXNrIG 1hbmFnZW1l bnQgc3RyYX RlZ2llcyB0 byBlbnN1cm UgdGhlIGxv bmctdGVybS BzdWNjZXNz IG9mIHRoZW lyIGJ1c2lu ZXNzLg==

The sensitivity of Brown Brown Insurance Company’s earnings, cash flow, and valuation to changes in interest rates can be analyzed in several dimensions.
1. Earnings: Interest rates can affect the company’s investment income, especially if it holds a substantial portfolio of fixed-income securities. When interest rates rise, the yield on new investments increases, potentially enhancing future earnings. Conversely, if interest rates fall, existing lower-yield assets may drag down income. Additionally, changes in interest rates can influence policyholder behavior, such as lapses or premium payments, indirectly affecting earnings.
2. Cash Flow: The company’s cash flow can be sensitive to interest rates in terms of its investment activities. Higher interest rates may improve cash flow from new investments, but they can also lead to higher claims costs if borrowing becomes more expensive for clients, potentially resulting in increased claims. Moreover, fluctuating rates can affect the timing of cash inflows from premiums and investments, leading to variations in cash flow stability.
3. Valuation: The valuation of the company is often tied to discounted cash flow models, which incorporate interest rates as a critical factor. A rise in interest rates typically increases the discount rate used in valuations, leading to lower present values of future cash flows and potentially decreasing the company’s overall valuation. Conversely, lower rates can create a more favorable valuation environment. Additionally, the overall market sentiment around interest rates can influence the stock price, as investors may adjust their expectations of future profitability based on interest rate outlooks.
In summary, Brown Brown Insurance Company’s earnings, cash flow, and valuation are all sensitive to interest rate changes, impacting the company’s financial health and market perception. The degree of sensitivity, however, depends on the company’s specific investment strategy, asset allocation, and operational dynamics in response to the broader economic environment.

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 bG9nb3Mvan FoZ3ZKRGJh RW03QmNiRk pFdUoud2Vi cCIgYWx0PS JCcm93biBC cm93biBJbn N1cmFuY2Ui IHRpdGxlPS JCcm93biBC cm93biBJbn N1cmFuY2Ui ICBjbGFzcz 0iaW1nLWZs dWlkIiBoZW lnaHQ9OTAg d2lkdGg9OT AgbG9hZGlu Zz0nbGF6eS cgc3R5bGU9 J2JvcmRlci 1yYWRpdXM6 IDZweDsnPg oKICAgICAg ICAgICAgIC AgICAgICA8 ZGl2IHN0eW xlPSdmbGV4 OiAxOyB0ZX h0LWFsaWdu OiBjZW50ZX I7IG1hcmdp bi1sZWZ0Oi A1cHg7Jz4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgPHAgc3R5 bGU9J2Zvbn Qtc2l6ZTog MjZweDsgY2 9sb3I6ICMz MzM7IG1hcm dpbi1ib3R0 b206IDE1cH g7Jz4KICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIPCfk4gg V2FudCB0by ByZWFkIG1v cmUgYWJvdX QgQnJvd24g QnJvd24gSW 5zdXJhbmNl PwogICAgIC AgICAgICAg ICAgICAgIC AgICA8L3A+ CgogICAgIC AgICAgICAg ICAgICAgIC AgICA8YSBo cmVmPSdpbm RleC5waHA/ cGFnZT1zaW dudXAnIHN0 eWxlPScKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIGJhY2 tncm91bmQt Y29sb3I6IC MwMDdCRkY7 CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBj b2xvcjogI2 ZmZjsKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIHBhZGRp bmc6IDEwcH ggMjBweDsK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIGJv cmRlci1yYW RpdXM6IDVw eDsKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IHRleHQtZG Vjb3JhdGlv bjogbm9uZT sKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIG ZvbnQtd2Vp Z2h0OiBib2 xkOwogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgbWFyZ2lu LXJpZ2h0Oi AxMHB4Owog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgdHJh bnNpdGlvbj ogYmFja2dy b3VuZC1jb2 xvciAwLjNz IGVhc2U7Jw ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgb2 5tb3VzZW92 ZXI9J3RoaX Muc3R5bGUu YmFja2dyb3 VuZENvbG9y PSIjMDA1Nm IzIicKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIG9ubW91 c2VvdXQ9J3 RoaXMuc3R5 bGUuYmFja2 dyb3VuZENv bG9yPSIjMD A3QkZGIic+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBT aWduIHVwIG ZvciBmcmVl CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDwvYT4K CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDxzcGFu IHN0eWxlPS dtYXJnaW46 IDAgOHB4Oy Bjb2xvcjog IzU1NTsnPm 9yPC9zcGFu PgoKICAgIC AgICAgICAg ICAgICAgIC AgICAgPGEg aHJlZj0naW 5kZXgucGhw P3BhZ2U9bG 9naW4nIHN0 eWxlPScKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIGNvbG 9yOiAjMDA3 QkZGOwogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgdGV4dC 1kZWNvcmF0 aW9uOiB1bm RlcmxpbmU7 CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBm b250LXdlaW dodDogNTAw Oyc+CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBsb2cgaW 4KICAgICAg ICAgICAgIC AgICAgICAg ICAgPC9hPg oKCiAgICAg ICAgICAgIC AgICAgICAg ICAgIDxwIH N0eWxlPSdt YXJnaW4tdG 9wOiAxNXB4 OyBmb250LX NpemU6IDEz cHg7IGZvbn Qtd2VpZ2h0 OiBib2xkOy Bjb2xvcjog I2QzMmYyZj snPgogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Ag8J+TmiBZ b3VyIGZyZW UgY29weSBv ZiA8aT4iVG hlIENoZWNr bGlzdCBWYW x1ZSBJbnZl c3RvciDigJ QgQSBTbWFy dGVyIFdheS B0byBQaWNr IFN0b2Nrcy I8L2k+IGlz IHdhaXRpbm cKICAgICAg ICAgICAgIC AgICAgICAg ICAgPC9wPg oKICAgICAg ICAgICAgIC AgICAgICAg ICAgPCEtLQ ogICAgICAg ICAgICAgIC AgICAgICAg ICA8ZGl2IH N0eWxlPSdt YXJnaW4tdG 9wOiAxMnB4 OyBmb250LX NpemU6IDEz cHg7IGNvbG 9yOiAjNDQ0 Oyc+CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBTaWduIH VwIG5vdyBh bmQgZ2V0IG 91ciBmcmVl IGVCb29rIA ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgPG I+VGhlIENo ZWNrbGlzdC BWYWx1ZSBJ bnZlc3Rvci DigJQgQSBT bWFydGVyIF dheSB0byBQ aWNrIFN0b2 NrczwvYj4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgPC9kaXY+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgIC0tPgog ICAgICAgIC AgICAgICAg ICAgICAgIC A8IS0tCiAg ICAgICAgIC AgICAgICAg ICAgICAgID xkaXYgc3R5 bGU9J21hcm dpbi10b3A6 IDE2cHg7IG ZvbnQtc2l6 ZTogMTRweD sgY29sb3I6 ICM0NDQ7IG ZvbnQtZmFt aWx5OiAtYX BwbGUtc3lz dGVtLCBCbG lua01hY1N5 c3RlbUZvbn QsIFNlZ29l IFVJLCBSb2 JvdG8sIEhl bHZldGljYS BOZXVlLCBz YW5zLXNlcm lmOyBsaW5l LWhlaWdodD ogMS42Oyc+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBI YXZlIHlvdS BoZWFyZCBh Ym91dCBvdX Igc2hvcnQg PHN0cm9uZy BzdHlsZT0n Zm9udC13ZW lnaHQ6IDYw MDsnPkRhaW x5IFZpZGVv IE5ld3NsZX R0ZXI8L3N0 cm9uZz4/Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICA8YS BocmVmPSdo dHRwczovL3 d3dy5pbnNp Z2h0ZnVsdm FsdWUuY29t L25ld3NsZX R0ZXIucGhw JyB0YXJnZX Q9J19ibGFu aycgc3R5bG U9J2NvbG9y OiAjMDA3Qk ZGOyB0ZXh0 LWRlY29yYX Rpb246IG5v bmU7IGZvbn Qtd2VpZ2h0 OiA1MDA7IG 1hcmdpbi1s ZWZ0OiA2cH g7Jz4KICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBG aW5kIG91dC Btb3JlCiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICA8L2E+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDwvZGl2 PgogICAgIC AgICAgICAg ICAgICAgIC AgICAtLT4K ICAgICAgIC AgICAgICAg ICAgICA8L2 Rpdj4KICAg ICAgICAgIC AgICAgIDwv ZGl2PgogIC AgICAgICAg ICA8L2Rpdj 4KICAgICAg ICAgICAgCi AgICAgICAg CiAgICAgIC AgPHNwYW4g Y2xhc3M9J2 JsdXJyZWQt dGV4dCc+Ci AgICAgICAg ICAgIE1TNG dWR2hsSUUg SnliM2R1SU VKeSBiM2R1 SUVsdWMzIF Z5WVc1alpT QmogYjIxd1 lXNTVJSCBk aGN5Qm1iM1 Z1IFpHVmtJ R2x1SUQgRT VNemtnWW5r ZyBkSGR2SU dKeWIzIFJv WlhKekxDQk sgTGlCQlpI SnBZVyA0Z1 FuSnZkMjRn IFlXNWtJRU 5vWVggSnNa WE1nUXk0Zy BRbkp2ZDI0 c0lHIGx1SU VSaGVYUnYg Ym1FZ1FtVm hZMiBnc0lF WnNiM0pwIF pHRXVQR0p5 UGogSXVJRl JvWlNCaiBi MjF3WVc1NU lIIGRoY3lC dmNtbG4gYV c1aGJHeDVJ RyA1aGJXVm tJRUp5IGIz ZHVJQ1lnUW 4gSnZkMjRn YjJZZyBSbX h2Y21sa1lT IHdnU1c1ak xpQmggYm1R Z2MzUmhjbi BSbFpDQmhj eUJoIElITn RZV3hzSUcg WmhiV2xzZV MxdiBkMjVs WkNCaWRYIE 5wYm1WemN5 QjMgYVhSb0 lHOXViSCBr Z1lTQm9ZVz VrIFpuVnNJ RzltSUcgVn RjR3h2ZVdW bCBjeTQ4WW 5JK015IDRn VkdobElHTn YgYlhCaGJu a2dZbSBWal lXMWxJSEIx IFlteHBZMn g1SUggUnlZ V1JsWkNCcC BiaUF4T1Rr eklHIEZ1Wk NCcGN5Qmog ZFhKeVpXNT BiSCBrZ2JH bHpkR1ZrIE lHOXVJSFJv WlMgQk9aWG NnV1c5eSBh eUJUZEc5am F5IEJGZUdO b1lXNW4gWl NCMWJtUmxj aSBCMGFHVW djM2x0IFlt OXNJRUpTVH kgNDhZbkkr TkM0ZyBTVz RnTWpBeE9D IHdnUW5Kdm QyNGcgUW5K dmQyNGdTVy A1emRYSmhi bU5sIElIZG hjeUJ5WVcg NXJaV1FnZE dobCBJSE5w ZUhSb0lHIH hoY21kbGMz UWcgYVc1em RYSmhibSBO bElHSnliMn RsIGNtRm5a U0JwYmkgQj BhR1VnZDI5 eSBiR1FnWW 5rZ1FuIFZ6 YVc1bGMzTW cgU1c1emRY SmhibSBObE lHMWhaMkY2 IGFXNWxMan hpY2ogNDFM aUJVYUdVZy BZMjl0Y0dG dWVTIEJvWV hNZ1lTQjEg Ym1seGRXVW dZMiA5eWNH OXlZWFJsIE lHTjFiSFIx Y20gVWdkR2 hoZENCMiBZ V3gxWlhNZ2 RIIEpoYm5O d1lYSmwgYm 1ONUxDQmpi MiB4c1lXSn ZjbUYwIGFX OXVMQ0JoYm 0gUWdZU0Jt YkdGMCBJRz l5WjJGdWFY IHBoZEdsdm JtRnMgSUdo cFpYSmhjbS BOb2VTNDhZ bkkrIE5pNG dRbkp2ZDIg NGdRbkp2ZD I0ZyBTVzV6 ZFhKaGJtIE 5sSUdoaGN5 QnYgZG1WeU lETXdNQyBC dlptWnBZMl Z6IElHbHVJ SFJvWlMgQl ZibWwwWldR ZyBVM1JoZE dWekxDIEJE WVc1aFpHRX MgSUdGdVpD QjBhRyBVZ1 ZXNXBkR1Zr IElFdHBibW RrYjIgMHNJ SGRwZEdnZy BjR3hoYm5N Z2RHIDhnWl hod1lXNWsg SUdsdWRHVn libSBGMGFX OXVZV3hzIG VTNDhZbkkr TnkgNGdWR2 hsSUdOdiBi WEJoYm5rZ2 IyIFptWlhK eklHRWcgZD Jsa1pTQnlZ VyA1blpTQn ZaaUJwIGJu TjFjbUZ1WT IgVWdjSEp2 WkhWaiBkSE 1nWVc1a0lI IE5sY25acF kyVnogTENC cGJtTnNkVy BScGJtY2dj SEp2IGNHVn lkSGtnWVcg NWtJR05oYz NWaCBiSFI1 TENCbGJYIE JzYjNsbFpT QmkgWlc1bF ptbDBjeSB3 Z2NHVnljMj l1IFlXd2dh VzV6ZFggSm hibU5sTENC aCBibVFnYl c5eVpTIDQ4 WW5JK09DNG cgUW5KdmQy NGdRbiBKdm QyNGdTVzV6 IGRYSmhibU 5sSUcgaGhj eUJoSUhOMC BjbTl1WnlC d2NtIFZ6Wl c1alpTQnAg YmlCMGFHVW dZWCBacFlY UnBiMjRnIF lXNWtJRzFo Y20gbHVaU0 JwYm5OMSBj bUZ1WTJVZ2 JXIEZ5YTJW MGN5d2cgZD JsMGFDQnpj RyBWamFXRn NhWHBsIFpD QmthWFpwYz IgbHZibk1n WkdWayBhV0 5oZEdWa0lI IFJ2SUhSb1 pYTmwgSUds dVpIVnpkSC BKcFpYTXVQ R0p5IFBqa3 VJRlJvWlMg QmpiMjF3WV c1NSBJR0Zz YzI4Z2FHIE Z6SUdFZ2Mz UnkgYjI1bk lHTnZiVyAx cGRHMWxibl FnIGRHOGdj R2hwYkcgRn VkR2h5YjNC NSBJR0Z1Wk NCb1lYIE1n WVNCbWIzVn UgWkdGMGFX OXVJSCBSb1 lYUWdjM1Z3 IGNHOXlkSE 1nZG0gRnlh VzkxY3lCai BhR0Z5YVhS aFltIHhsSU dOaGRYTmwg Y3l3Z2FXNW piSCBWa2FX NW5JR1ZrIG RXTmhkR2x2 Ymkgd2dhR1 ZoYkhSbyBM Q0JoYm1RZ2 MyIDlqYVdG c0lITmwgY2 5acFkyVnpM aiB4aWNqNH hNQzRnIFFu SnZkMjRnUW 4gSnZkMjRn U1c1eiBkWE poYm1ObElH IGhoY3lCaV pXVnUgSUhK bFkyOW5ibS BsNlpXUWda bTl5IElHbD BjeUJsZUcg TmxjSFJwYj I1aCBiQ0Iz YjNKcmNHIH hoWTJVZ1kz VnMgZEhWeV pTQmhibSBR Z1pHbDJaWE p6IGFYUjVJ R2x1YVggUn BZWFJwZG1W eiBMQ0JwYm 1Oc2RXIFJw Ym1jZ1ltVn AgYm1jZ2Jt RnRaVyBRZ2 IyNWxJRzlt IElIUm9aU0 JDWlggTjBJ RkJzWVdObC BjeUIwYnlC WGIzIEpySU dKNUlFWnYg Y21KbGN5Qm hibSBRZ2Iy NWxJRzltIE lIUm9aU0JD WlggTjBJRm R2Y210dyBi R0ZqWlhNZ1 ptIDl5SUVS cGRtVnkgYz JsMGVTQmll UyBCR2IzSj BkVzVsIExn PT0KICAgIC AgICA8L3Nw YW4+CiAgIC AgICAgCiAg ICAgICAg
See Company Q&A