Genpact

-13.31%

Live  

Genpact is a global professional services firm that provides digital transformation, technology, and business process outsourcing services. It was founded in 1997 as a business unit within General Electric and became an independent company in 2005. Genpact has a presence in over 30 countries and serves clients in various industries including banking and financial services, healthcare, manufacturing, and consumer goods. The company employs over 90,000 people globally and is headquartered in New York City, New York. Genpact's services include consulting, analytics, artificial intelligence, and design thinking, among others. Its goal is to help clients become more competitive and agile by transforming their business processes and improving operational efficiency.

MS4gR2xvYm FsIFByZXNl bmNlOiBHZW 5wYWN0IGhh cyBhIHByZX NlbmNlIGlu IG1vcmUgdG hhbiAzMCBj b3VudHJpZX MsIG1ha2lu ZyBpdCBvbm Ugb2YgdGhl IGxhcmdlc3 QgYnVzaW5l c3MgcHJvY2 VzcyBvdXRz b3VyY2luZy AoQlBPKSBj b21wYW5pZX MgaW4gdGhl IHdvcmxkLj xicj4yLiBE aWdpdGFsIF RyYW5zZm9y bWF0aW9uOi BUaGUgY29t cGFueSBoYX MgYmVlbiBh dCB0aGUgZm 9yZWZyb250 IG9mIGRpZ2 l0YWwgdHJh bnNmb3JtYX Rpb24gYnkg bGV2ZXJhZ2 luZyBlbWVy Z2luZyB0ZW Nobm9sb2dp ZXMgc3VjaC BhcyBhcnRp ZmljaWFsIG ludGVsbGln ZW5jZSwgbW FjaGluZSBs ZWFybmluZy wgYW5kIGFu YWx5dGljcy B0byBwcm92 aWRlIGlubm 92YXRpdmUg c29sdXRpb2 5zIHRvIGl0 cyBjbGllbn RzLjxicj4z LiBJbmR1c3 RyeSBFeHBl cnRpc2U6IE dlbnBhY3Qg aGFzIGRlZX AgaW5kdXN0 cnkgZXhwZX J0aXNlIGlu IGFyZWFzIH N1Y2ggYXMg YmFua2luZy BhbmQgZmlu YW5jaWFsIH NlcnZpY2Vz LCBoZWFsdG hjYXJlLCBh bmQgYXV0b2 1vdGl2ZSwg ZW5hYmxpbm cgaXQgdG8g cHJvdmlkZS BjdXN0b21p emVkIHNvbH V0aW9ucyB0 byBpdHMgY2 xpZW50cy48 YnI+NC4gTG VhbiBTaXgg U2lnbWEgTW V0aG9kb2xv Z3k6IFRoZS Bjb21wYW55 IGZvbGxvd3 MgYSBMZWFu IFNpeCBTaW dtYSBtZXRo b2RvbG9neS B0byBkcml2 ZSBvcGVyYX Rpb25hbCBl ZmZpY2llbm N5LCByZWR1 Y2UgY29zdH MsIGFuZCBp bXByb3ZlIH BlcmZvcm1h bmNlIGZvci BpdHMgY2xp ZW50cy48Yn I+NS4gRW1w bG95ZWUgRG V2ZWxvcG1l bnQ6IEdlbn BhY3QgaGFz IGEgc3Ryb2 5nIGZvY3Vz IG9uIGVtcG xveWVlIGRl dmVsb3BtZW 50IGFuZCBp bnZlc3RzIG luIGl0cyBl bXBsb3llZX MnIHRyYWlu aW5nIGFuZC B1cHNraWxs aW5nIHRvIG tlZXAgcGFj ZSB3aXRoIH RoZSBldm9s dmluZyBpbm R1c3RyeSBk ZW1hbmRzLj xicj42LiBQ YXJ0bmVyc2 hpcCB3aXRo IEZvcnR1bm UgNTAwIENv bXBhbmllcz ogVGhlIGNv bXBhbnkgaG FzIGxvbmdz dGFuZGluZy BwYXJ0bmVy c2hpcHMgd2 l0aCBzZXZl cmFsIEZvcn R1bmUgNTAw IGNvbXBhbm llcywgcHJv dmlkaW5nIG l0IHdpdGgg YSBzdHJvbm cgY3VzdG9t ZXIgYmFzZS BhbmQgYSBk aXZlcnNlIH BvcnRmb2xp byBvZiBzZX J2aWNlcy48 YnI+Ny4gU2 9jaWFsIElt cGFjdDogR2 VucGFjdCBp cyBjb21taX R0ZWQgdG8g bWFraW5nIG EgcG9zaXRp dmUgaW1wYW N0IG9uIHNv Y2lldHkgdG hyb3VnaCBp dHMgY29ycG 9yYXRlIHNv Y2lhbCByZX Nwb25zaWJp bGl0eSBpbm l0aWF0aXZl cywgZm9jdX Npbmcgb24g ZWR1Y2F0aW 9uLCBoZWFs dGhjYXJlLC BhbmQgY29t bXVuaXR5IG RldmVsb3Bt ZW50Ljxicj 44LiBBd2Fy ZHMgYW5kIF JlY29nbml0 aW9uOiBUaG UgY29tcGFu eSBoYXMgYm VlbiBjb25z aXN0ZW50bH kgcmVjb2du aXplZCBmb3 IgaXRzIGV4 Y2VsbGVuY2 UgaW4gdGhl IGluZHVzdH J5LCByZWNl aXZpbmcgYX dhcmRzIGZv ciBpdHMgaW 5ub3ZhdGl2 ZSBzb2x1dG lvbnMsIGVt cGxveWVlIG RldmVsb3Bt ZW50IHByb2 dyYW1zLCBh bmQgY29ycG 9yYXRlIHNv Y2lhbCByZX Nwb25zaWJp bGl0eSBlZm ZvcnRzLjxi cj45LiBTdX N0YWluYWJp bGl0eTogR2 VucGFjdCBp cyBjb21taX R0ZWQgdG8g c3VzdGFpbm FiaWxpdHkg YW5kIGhhcy BzZXQgYW1i aXRpb3VzIG dvYWxzIHRv IHJlZHVjZS BpdHMgY2Fy Ym9uIGZvb3 RwcmludCBh bmQgcHJvbW 90ZSBzdXN0 YWluYWJsZS BwcmFjdGlj ZXMgYWNyb3 NzIGl0cyBv cGVyYXRpb2 5zLjxicj4x MC4gRGlnaX RhbCBJbm5v dmF0aW9uIE xhYnM6IFRo ZSBjb21wYW 55IGhhcyBz ZXQgdXAgc3 RhdGUtb2Yt dGhlLWFydC BkaWdpdGFs IGlubm92YX Rpb24gbGFi cyB0byBmb3 N0ZXIgY29s bGFib3JhdG lvbiBhbmQg ZHJpdmUgaW 5ub3ZhdGlv biBmb3IgaX RzIGNsaWVu dHMsIGVuYW JsaW5nIHRo ZW0gdG8gc3 RheSBhaGVh ZCBpbiB0aG UgZGlnaXRh bCBhZ2Uu

R2VucGFjdC BpcyBhIGds b2JhbCBwcm 9mZXNzaW9u YWwgc2Vydm ljZXMgZmly bSB0aGF0IG hlbHBzIGJ1 c2luZXNzZX MgdHJhbnNm b3JtIGFuZC BvcGVyYXRl IGVmZmljaW VudGx5IGJ5 IHByb3ZpZG luZyBjb21w cmVoZW5zaX ZlIHNlcnZp Y2VzIGluIG FyZWFzIHN1 Y2ggYXMgZm luYW5jZSBh bmQgYWNjb3 VudGluZywg c3VwcGx5IG NoYWluLCBw cm9jdXJlbW VudCwgaW5m b3JtYXRpb2 4gdGVjaG5v bG9neSwgYW 5hbHl0aWNz LCBhbmQgZG lnaXRhbCBz b2x1dGlvbn MuIFRoZWly IGJ1c2luZX NzIG1vZGVs IGlzIGJhc2 VkIG9uIG9m ZmVyaW5nIG NsaWVudHMg YSB3aWRlIH JhbmdlIG9m IHNlcnZpY2 VzIHRvIHN1 cHBvcnQgdG hlaXIgY29y ZSBidXNpbm VzcyBvcGVy YXRpb25zLC BpbXByb3Zl IGVmZmljaW VuY3kgYW5k IGNvc3QtZW ZmZWN0aXZl bmVzcywgYW 5kIGRyaXZl IGlubm92YX Rpb24uIFRo aXMgaW5jbH VkZXMgYm90 aCBjb25zdW x0aW5nIGFu ZCBtYW5hZ2 VkIHNlcnZp Y2VzLCB3aG VyZSBHZW5w YWN0IHRha2 VzIG9uIHRo ZSByZXNwb2 5zaWJpbGl0 eSBvZiBtYW 5hZ2luZyBz cGVjaWZpYy Bwcm9jZXNz ZXMgb3IgZn VuY3Rpb25z IGZvciB0aG VpciBjbGll bnRzLiBHZW 5wYWN0IGFs c28gbGV2ZX JhZ2VzIHRo ZWlyIGRhdG EgYW5kIGFu YWx5dGljcy BjYXBhYmls aXRpZXMgdG 8gcHJvdmlk ZSBpbnNpZ2 h0cyBhbmQg ZGVjaXNpb2 4gc3VwcG9y dCB0byBjbG llbnRzLCBo ZWxwaW5nIH RoZW0gbWFr ZSBpbmZvcm 1lZCBidXNp bmVzcyBkZW Npc2lvbnMu IEFkZGl0aW 9uYWxseSwg dGhlIGNvbX Bhbnkgb2Zm ZXJzIGEgcm FuZ2Ugb2Yg ZGlnaXRhbC Bzb2x1dGlv bnMsIHN1Y2 ggYXMgYXV0 b21hdGlvbi BhbmQgYXJ0 aWZpY2lhbC BpbnRlbGxp Z2VuY2UsIH RvIGhlbHAg Y2xpZW50cy BzdHJlYW1s aW5lIGFuZC BvcHRpbWl6 ZSB0aGVpci BvcGVyYXRp b25zLiBPdm VyYWxsLCBH ZW5wYWN0J3 MgYnVzaW5l c3MgbW9kZW wgZm9jdXNl cyBvbiBkcm l2aW5nIGdy b3d0aCBhbm QgdmFsdWUg Zm9yIGNsaW VudHMgYnkg bGV2ZXJhZ2 luZyB0aGVp ciBleHBlcn Rpc2UgYW5k IHRlY2hub2 xvZ3kgY2Fw YWJpbGl0aW VzLg==

Genpact, like many companies, can be sensitive to changes in interest rates in several ways:
1. Earnings Sensitivity: Interest rates can affect a company’s borrowing costs. If Genpact has variable-rate debt, an increase in interest rates could lead to higher interest expenses, thereby reducing net income. Conversely, if rates are low, their cost of borrowing can be minimized, positively impacting earnings. Additionally, higher interest rates can lead to reduced consumer spending and business investment, potentially affecting Genpact’s revenue from clients.
2. Cash Flow Sensitivity: Cash flows can also be influenced by interest rates. Higher rates can reduce cash flow available for investments and operations if the company’s debt servicing costs increase, impacting overall liquidity. On the other hand, lower rates typically free up more cash for reinvestment in growth opportunities. Moreover, if clients face higher borrowing costs, they might cut back on services provided by Genpact, affecting cash inflows.
3. Valuation Sensitivity: The valuation of Genpact is often assessed through discounted cash flow (DCF) models, which are sensitive to changes in the discount rate used. As interest rates rise, the discount rate typically increases, leading to a lower present value of future cash flows, thus reducing the company’s overall valuation. Conversely, falling interest rates can enhance valuation by decreasing the discount rate and increasing the present value of future earnings.
Overall, while Genpact’s direct sensitivity to interest rate changes may not be as pronounced as financial institutions, it still significantly affects their operational costs, client behavior, and ultimately their 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 bG9nb3MvcG 00TDN3T1Y1 Nm1OYXVtNU NMWFUud2Vi cCIgYWx0PS JHZW5wYWN0 IiB0aXRsZT 0iR2VucGFj dCIgIGNsYX NzPSJpbWct Zmx1aWQiIG hlaWdodD05 MCB3aWR0aD 05MCBsb2Fk aW5nPSdsYX p5JyBzdHls ZT0nYm9yZG VyLXJhZGl1 czogNnB4Oy c+CgogICAg ICAgICAgIC AgICAgICAg IDxkaXYgc3 R5bGU9J2Zs ZXg6IDE7IH RleHQtYWxp Z246IGNlbn RlcjsgbWFy Z2luLWxlZn Q6IDVweDsn PgogICAgIC AgICAgICAg ICAgICAgIC AgICA8cCBz dHlsZT0nZm 9udC1zaXpl OiAyNnB4Oy Bjb2xvcjog IzMzMzsgbW FyZ2luLWJv dHRvbTogMT VweDsnPgog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAg8J+T iCBXYW50IH RvIHJlYWQg bW9yZSBhYm 91dCBHZW5w YWN0PwogIC AgICAgICAg ICAgICAgIC AgICAgICA8 L3A+CgogIC AgICAgICAg ICAgICAgIC AgICAgICA8 YSBocmVmPS dpbmRleC5w aHA/cGFnZT 1zaWdudXAn IHN0eWxlPS cKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIG JhY2tncm91 bmQtY29sb3 I6ICMwMDdC RkY7CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBjb2xvcj ogI2ZmZjsK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIHBh ZGRpbmc6ID EwcHggMjBw eDsKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IGJvcmRlci 1yYWRpdXM6 IDVweDsKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIHRleH QtZGVjb3Jh dGlvbjogbm 9uZTsKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIGZvbnQt d2VpZ2h0Oi Bib2xkOwog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgbWFy Z2luLXJpZ2 h0OiAxMHB4 OwogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg dHJhbnNpdG lvbjogYmFj a2dyb3VuZC 1jb2xvciAw LjNzIGVhc2 U7JwogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Agb25tb3Vz ZW92ZXI9J3 RoaXMuc3R5 bGUuYmFja2 dyb3VuZENv bG9yPSIjMD A1NmIzIicK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIG9u bW91c2VvdX Q9J3RoaXMu c3R5bGUuYm Fja2dyb3Vu ZENvbG9yPS IjMDA3QkZG Iic+CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBTaWduIH VwIGZvciBm cmVlCiAgIC AgICAgICAg ICAgICAgIC AgICAgIDwv YT4KCiAgIC AgICAgICAg ICAgICAgIC AgICAgIDxz cGFuIHN0eW xlPSdtYXJn aW46IDAgOH B4OyBjb2xv cjogIzU1NT snPm9yPC9z cGFuPgoKIC AgICAgICAg ICAgICAgIC AgICAgICAg PGEgaHJlZj 0naW5kZXgu cGhwP3BhZ2 U9bG9naW4n IHN0eWxlPS cKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIG NvbG9yOiAj MDA3QkZGOw ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgdG V4dC1kZWNv cmF0aW9uOi B1bmRlcmxp bmU7CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBmb250LX dlaWdodDog NTAwOyc+Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBsb2 cgaW4KICAg ICAgICAgIC AgICAgICAg ICAgICAgPC 9hPgoKCiAg ICAgICAgIC AgICAgICAg ICAgICAgID xwIHN0eWxl PSdtYXJnaW 4tdG9wOiAx NXB4OyBmb2 50LXNpemU6 IDEzcHg7IG ZvbnQtd2Vp Z2h0OiBib2 xkOyBjb2xv cjogI2QzMm YyZjsnPgog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAg8J+T miBZb3VyIG ZyZWUgY29w eSBvZiA8aT 4iVGhlIENo ZWNrbGlzdC BWYWx1ZSBJ bnZlc3Rvci DigJQgQSBT bWFydGVyIF dheSB0byBQ aWNrIFN0b2 NrcyI8L2k+ IGlzIHdhaX RpbmcKICAg ICAgICAgIC AgICAgICAg ICAgICAgPC 9wPgoKICAg ICAgICAgIC AgICAgICAg ICAgICAgPC EtLQogICAg ICAgICAgIC AgICAgICAg ICAgICA8ZG l2IHN0eWxl PSdtYXJnaW 4tdG9wOiAx MnB4OyBmb2 50LXNpemU6 IDEzcHg7IG NvbG9yOiAj NDQ0Oyc+Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBTaW duIHVwIG5v dyBhbmQgZ2 V0IG91ciBm cmVlIGVCb2 9rIAogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgPGI+VGhl IENoZWNrbG lzdCBWYWx1 ZSBJbnZlc3 RvciDigJQg QSBTbWFydG VyIFdheSB0 byBQaWNrIF N0b2Nrczwv Yj4KICAgIC AgICAgICAg ICAgICAgIC AgICAgPC9k aXY+CiAgIC AgICAgICAg ICAgICAgIC AgICAgIC0t PgogICAgIC AgICAgICAg ICAgICAgIC AgICA8IS0t CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDxkaXYg c3R5bGU9J2 1hcmdpbi10 b3A6IDE2cH g7IGZvbnQt c2l6ZTogMT RweDsgY29s b3I6ICM0ND Q7IGZvbnQt ZmFtaWx5Oi AtYXBwbGUt c3lzdGVtLC BCbGlua01h Y1N5c3RlbU ZvbnQsIFNl Z29lIFVJLC BSb2JvdG8s IEhlbHZldG ljYSBOZXVl LCBzYW5zLX NlcmlmOyBs aW5lLWhlaW dodDogMS42 Oyc+CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBIYXZlIH lvdSBoZWFy ZCBhYm91dC BvdXIgc2hv cnQgPHN0cm 9uZyBzdHls ZT0nZm9udC 13ZWlnaHQ6 IDYwMDsnPk RhaWx5IFZp ZGVvIE5ld3 NsZXR0ZXI8 L3N0cm9uZz 4/CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC A8YSBocmVm PSdodHRwcz ovL3d3dy5p bnNpZ2h0Zn VsdmFsdWUu Y29tL25ld3 NsZXR0ZXIu cGhwJyB0YX JnZXQ9J19i bGFuaycgc3 R5bGU9J2Nv bG9yOiAjMD A3QkZGOyB0 ZXh0LWRlY2 9yYXRpb246 IG5vbmU7IG ZvbnQtd2Vp Z2h0OiA1MD A7IG1hcmdp bi1sZWZ0Oi A2cHg7Jz4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBGaW5kIG 91dCBtb3Jl CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICA8 L2E+CiAgIC AgICAgICAg ICAgICAgIC AgICAgIDwv ZGl2PgogIC AgICAgICAg ICAgICAgIC AgICAgICAt LT4KICAgIC AgICAgICAg ICAgICAgIC A8L2Rpdj4K ICAgICAgIC AgICAgICAg IDwvZGl2Pg ogICAgICAg ICAgICA8L2 Rpdj4KICAg ICAgICAgIC AgCiAgICAg ICAgCiAgIC AgICAgPHNw YW4gY2xhc3 M9J2JsdXJy ZWQtdGV4dC c+CiAgICAg ICAgICAgIF IyVnVjR0Zq ZEMgQnBjeU JoSUdkcyBi MkpoYkNCd2 NtIDltWlhO emFXOXUgWV d3Z2MyVnlk bSBsalpYTW dabWx5IGJT QjBhR0YwSU cgWnZZM1Z6 WlhNZyBiMj RnZEhKaGJu IE5tYjNKdG FXNW4gSUdG dVpDQnlkVy A1dWFXNW5J R0oxIGMybH VaWE56SUgg QnliMk5sYz NObCBjeUJo Ym1RZ2IzIE JsY21GMGFX OXUgY3k0Z1 NHVnlaUyBC aGNtVWdjMj l0IFpTQnBi blJsY20gVn pkR2x1WnlC bSBZV04wY3 lCaFltIDkx ZENCSFpXNX cgWVdOME9q eGljaiA0eE xpQlBjbWxu IGFXNDZJRW RsYm4gQmhZ M1FnZDJGei BJRzl5YVdk cGJtIEZzYk hrZ1lTQmkg ZFhOcGJtVn pjeSBCMWJt bDBJSGRwIG RHaHBiaUJI WlcgNWxjbU ZzSUVWcyBa V04wY21sak xDIEJtYjJO MWMybHUgWn lCdmJpQmlk WCBOcGJtVn pjeUJ3IGNt OWpaWE56SU cgOTFkSE52 ZFhKaiBhVz VuTGlCSmRD IEIzWVhNZ1 pYTjAgWVdK c2FYTm9aVy BRZ2FXNGdN VGs1IE55Qm hibVFnWW0g VmpZVzFsSU dGdSBJR2x1 WkdWd1pXID VrWlc1MElH TnYgYlhCaG Jua2dhVyA0 Z01qQXdOQz Q4IFluSStN aTRnU0cgVm haSEYxWVhK MCBaWEp6T2 lCVWFHIFVn WTI5dGNHRn UgZWVLQW1Y TWdhRyBWaF pIRjFZWEow IFpYSnpJR2 x6SUcgeHZZ MkYwWldRZy BhVzRnVG1W M0lGIGx2Y2 1zZ1EybDAg ZVN3Z1luVj BJRyBsMElH aGhjeUJoIE lITnBaMjVw Wm0gbGpZVz UwSUdkcyBi MkpoYkNCd2 NtIFZ6Wlc1 alpTQjMgYV hSb0lHOW1a bSBsalpYTW dhVzRnIGIz WmxjaUF6TU MgQmpiM1Z1 ZEhKcCBaWE 11UEdKeVBq IE11SUZkdm NtdG0gYjNK alpUb2dSMi BWdWNHRmpk Q0JsIGJYQn NiM2x6SUgg Umxibk1nYj JZZyBkR2h2 ZFhOaGJtIF J6SUc5bUlI QnkgYjJabG MzTnBiMiA1 aGJITWdkMj l5IGJHUjNh V1JsTEMgQm piM1psY21s dSBaeUJoSU hkcFpHIFVn Y21GdVoyVW cgYjJZZ2My dHBiRyB4ek lHRnVaQ0Js IGVIQmxjbl JwYzIgVXNJ R2x1WTJ4MS BaR2x1WnlC a1lYIFJoSU dGdVlXeDUg ZEdsamN5d2 dkRyBWamFH NXZiRzluIG VTd2dZVzVr SUcgTnZibk 4xYkhScCBi bWN1UEdKeV BqIFF1SUVs dVpIVnogZE hKNUlFWnZZ MyBWek9pQl VhR1VnIFky OXRjR0Z1ZV MgQnpaWEoy WlhNZyBZU0 JrYVhabGNu IE5sSUdGeW NtRjUgSUc5 bUlHbHVaSC BWemRISnBa WE1zIElHbH VZMngxWkcg bHVaeUJpWV c1ciBhVzVu SUdGdVpDIE JtYVc1aGJt TnAgWVd3Z2 MyVnlkbSBs alpYTXNJR2 x1IGMzVnlZ VzVqWlMgd2 dhR1ZoYkhS byBZMkZ5Wl N3Z2JXIEZ1 ZFdaaFkzUj EgY21sdVp5 d2dZVyA1a0 lHTnZibk4x IGJXVnlJR2 R2YjIgUnpM anhpY2o0MS BMaUJFYVdk cGRHIEZzSU ZSeVlXNXog Wm05eWJXRj BhVyA5dU9p QkhaVzV3IF lXTjBJR2ho Y3kgQmhJSE 4wY205dSBa eUJsYlhCb1 lYIE5wY3lC dmJpQmsgYV dkcGRHRnNJ SCBSeVlXNX pabTl5IGJX RjBhVzl1TE MgQnNaWFps Y21GbiBhVz VuSUhSbFky IGh1YjJ4dl oybGwgY3lC c2FXdGxJRy BGeWRHbG1h V05wIFlXd2 dhVzUwWlcg eHNhV2RsYm 1ObCBMQ0Jo ZFhSdmJXIE YwYVc5dUxD QmggYm1RZ1 pHRjBZUyBC aGJtRnNlWF JwIFkzTWdk RzhnWlcgNW 9ZVzVqWlNC aSBkWE5wYm 1WemN5IEJ3 Y205alpYTn ogWlhNZ1pt OXlJSCBSb1 pXbHlJR05z IGFXVnVkSE 11UEcgSnlQ all1SUVOdi BjbkJ2Y21G MFpTIEJUYj JOcFlXd2cg VW1WemNHOX VjMiBsaWFX eHBkSGs2IE lFZGxibkJo WTMgUWdhWE 1nWTI5dCBi V2wwZEdWa0 lIIFJ2SUdO dmNuQnYgY2 1GMFpTQnpi MiBOcFlXd2 djbVZ6IGNH OXVjMmxpYV cgeHBkSGtz SUdWdSBaMk ZuYVc1bklH IGx1SUhaaG NtbHYgZFhN Z2FXNXBkRy BsaGRHbDJa WE1nIGRHOG djM1Z3Y0cg OXlkQ0JsWk hWaiBZWFJw YjI0c0lHIF Z1ZG1seWIy NXQgWlc1MF lXd2djMyBW emRHRnBibU ZpIGFXeHBk SGtzSUcgRn VaQ0JqYjIx dCBkVzVwZE hrZ1pHIFYy Wld4dmNHMW wgYm5RdVBH SnlQaiBjdU lGSmxZMjlu IGJtbDBhVz l1T2kgQlVh R1VnWTI5dC BjR0Z1ZVNC b1lYIE1nY2 1WalpXbDIg WldRZ2JuVn RaWCBKdmRY TWdZWGRoIG NtUnpJR1p2 Y2kgQnBkSE 1nYVc1dSBi M1poZEdsdm JpIEJoYm1R Z2QyOXkgYT NCc1lXTmxJ RyBOMWJIUj FjbVVzIElH TnZibk5wYz MgUmxiblJz ZVNCeSBZVz VyYVc1bklH IEZ0YjI1bk lIUm8gWlNC aVpYTjBJSC BCc1lXTmxj eUIwIGJ5Qj NiM0pySUcg bHVJSFpoY2 1sdiBkWE1n YVc1a2RYIE 4wY25rZ2Mz VnkgZG1WNW N5NDhZbiBJ K09DNGdVR0 Z5IGRHNWxj bk5vYVggQn pPaUJIWlc1 dyBZV04wSU dOdmJHIHho WW05eVlYUm wgY3lCM2FY Um9JRyB4bF lXUnBibWNn IGRHVmphRz V2YkcgOW5l U0JqYjIxdy BZVzVwWlhN c0lHIGx1WT J4MVpHbHUg WnlCTmFXTn liMyBOdlpu UWdZVzVrIE lFZHZiMmRz WlMgQkRiRz kxWkN3ZyBk RzhnWlc1b1 lXIDVqWlNC cGRITWcgYz JWeWRtbGpa UyBCdlptWm xjbWx1IFoz TWdZVzVrSU cgUmxiR2wy WlhJZyBZV1 IyWVc1alpX IFFnZEdWam FHNXYgYkc5 bmVTQnpiMi B4MWRHbHZi bk1nIGRHOG dZMnhwWlcg NTBjeTQ4WW 5JKyBPUzRn UjNKdmQzIF JvSUZOMGNt RjAgWldkNU 9pQlVhRyBV Z1kyOXRjR0 Z1IGVTQm9Z WE1nY0ggVn ljM1ZsWkNC aCBiaUJoWj JkeVpYIE56 YVhabElHZH kgYjNkMGFD QnpkSCBKaG RHVm5lU3dn IFpYaHdZVz VrYVcgNW5J R0p2ZEdnZy BiM0puWVc1 cFkyIEZzYk hrZ1lXNWsg SUhSb2NtOT FaMiBnZ1lX TnhkV2x6IG FYUnBiMjV6 SUggUnZJR1 Z1YUdGdSBZ MlVnYVhSek lHIE5oY0dG aWFXeHAgZE dsbGN5Qmhi bSBRZ2JXRn lhMlYwIElI SmxZV05vTG ogeGljajR4 TUM0ZyBVbV Z6WldGeVky IGdnWVc1a0 lFUmwgZG1W c2IzQnRaVy A1ME9pQkha VzV3IFlXTj BJR2x1ZG0g VnpkSE1nYz JsbiBibWxt YVdOaGJuIF FnY21WemIz VnkgWTJWek lHbHVkRyA4 Z2NtVnpaV0 Z5IFkyZ2dZ VzVrSUcgUm xkbVZzYjNC dCBaVzUwSU hSdklIIE4w WVhrZ1lYUW cgZEdobElH WnZjbSBWbW NtOXVkQ0J2 IFppQnBibV IxYzMgUnll U0IwY21WdS BaSE1nWVc1 a0lIIFJsWT JodWIyeHYg WjJsallXd2 dZVyBSMllX NWpaVzFsIG JuUnpMQ0Jq YjIgNTBjbW xpZFhScCBi bWNnZEc4Z2 FYIFJ6SUhK bGNIVjAgWV hScGIyNGdZ WCBNZ1lTQj BhRzkxIFoy aDBJR3hsWV cgUmxjaUJw YmlCMCBhR1 VnWW5WemFX IDVsYzNNZ2 NISnYgWTJW emN5QnRZVy A1aFoyVnRa VzUwIElITm xZM1J2Y2kg NDhZbkkrCi AgICAgICAg PC9zcGFuPg ogICAgICAg IAogICAgIC AgIA==
See Company Q&A