[July 17, 2018] |
|
Nationstar Reports Second Quarter 2018 Financial Results
Nationstar Mortgage Holdings Inc. (NYSE:NSM), which principally operates
under the Mr. Cooper® and Xome® brands, reported second quarter GAAP net
income of $58 million, or $0.59 per diluted share. On an adjusted basis,
the Company reported earnings for the second quarter of $52 million, or
$0.53 per diluted share.
"Nationstar continues to deliver solid operating results with all
segments experiencing growth. Servicing profitability is improving ahead
of expectations, and significant opportunities exist for further growth.
Originations grew in profitability and volume, and it is focused on
providing solutions for our 3.2 million customers. Xome sales and order
volumes increased with the continued addition of new third-party
clients," said Jay Bray, Chairman and Chief Executive Officer. "We have
received all required approvals for our merger transaction with WMIH and
we expect to close the merger on July 31. We appreciate the support of
our shareholders, the WMIH shareholders and our partners who have
provided these approvals. We look forward to growing our differentiated
platform and building value for our shareholders and customers."
Servicing
Servicing supports home ownership for our 3.2 million customers and
earns recurring revenues from mortgage servicing rights and
subservicing. The Servicing segment earned $88 million GAAP pretax
income or $72 million adjusted pretax income (5.8 basis points).
Adjusted pretax profitability improved 5% from the prior quarter
primarily due to lower expenses. Expenses improved by $16 million or 9%
quarter-over-quarter as a result of improved efficiencies in the segment.
Nationstar boarded $20 billion UPB, ending the second quarter at $498
billion. An estimated $65 billion UPB, consisting of both mortgage
servicing rights and subservicing, is scheduled to board in the second
half of the year. Nationstar continues to evaluate significant servicing
growth opportunities and expects to end the year with over $530 billion.
Nationstar is targeting adjusted servicing profitability in excess of
6.0 basis points on average for the full year 2018 which will be
propelled by lower prepayment environment, portfolio additions, and
continued cost savings initiatives.
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|
|
|
|
|
|
|
|
|
|
|
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|
Quarter Ended
|
($ in millions)
|
|
Q1'18
|
|
Q2'18
|
|
|
$
|
|
BPS
|
|
$
|
|
BPS
|
Operational revenue
|
|
$
|
291
|
|
|
23.0
|
|
|
$
|
277
|
|
|
22.3
|
|
Amortization
|
|
|
(48
|
)
|
|
(3.8
|
)
|
|
|
(48
|
)
|
|
(3.9
|
)
|
Mark-to-market
|
|
|
152
|
|
|
12.1
|
|
|
|
19
|
|
|
1.5
|
|
Total revenues
|
|
|
395
|
|
|
31.3
|
|
|
|
248
|
|
|
20.0
|
|
Expenses
|
|
|
(182
|
)
|
|
(14.4
|
)
|
|
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(166
|
)
|
|
(13.4
|
)
|
Total other income (expenses), net
|
|
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7
|
|
|
0.6
|
|
|
|
6
|
|
|
0.5
|
|
Income before taxes (GAAP)
|
|
|
220
|
|
|
17.6
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|
|
|
88
|
|
|
7.1
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|
Mark-to-market
|
|
|
(152
|
)
|
|
(12.1
|
)
|
|
|
(19
|
)
|
|
(1.5
|
)
|
Adjustments
|
|
|
-
|
|
|
-
|
|
|
|
3
|
|
|
0.2
|
|
Adjusted pretax income
|
|
$
|
69
|
|
|
5.5
|
|
|
$
|
72
|
|
|
5.8
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|
|
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Quarter Ended
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Q1'18
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Q2'18
|
Ending UPB ($B)
|
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$
|
500
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|
|
$
|
498
|
|
Average UPB ($B)
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$
|
504
|
|
|
$
|
497
|
|
60+ day delinquency rate
|
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3.2
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%
|
|
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2.8
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%
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Annualized CPR
|
|
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10.7
|
%
|
|
|
12.1
|
%
|
Annualized CPR, net of recapture
|
|
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8.9
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%
|
|
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10.5
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%
|
Modifications and workouts
|
|
|
19,950
|
|
|
|
14,715
|
|
|
|
|
|
|
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Originations
Originations creates servicing assets at attractive margins through
recapture of existing customers, new customer acquisitions, and
correspondent originations. The Originations segment earned $32 million
GAAP pretax income or $33 million adjusted pretax income, an increase of
32% from the prior quarter primarily attributable to higher volume and
reduced expenses.
Nationstar funded over 25,000 loans totaling approximately $5.5 billion
which was composed of $2.6 billion from the consumer direct channel and
$2.9 billion from the correspondent channel. The consumer direct channel
is primarily focused on improving cash flow and consolidating debt for
nearly 750,000 customers identified from the servicing portfolio. A new
mobile app called Home Intelligence is expected to be available to
Nationstar's 3.2 million customers later in third quarter to help them
optimize their personal balance sheets and further add volume for the
channel.
Nationstar is targeting Originations adjusted pretax income of $120
million for the full year 2018.
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Quarter Ended
|
($ in millions)
|
|
Q1'18
|
|
Q2'18
|
Income before taxes (GAAP)
|
|
$
|
19
|
|
$
|
32
|
Adjustments
|
|
|
5
|
|
|
1
|
Adjusted pretax income
|
|
$
|
25
|
|
$
|
33
|
|
|
|
|
|
|
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Quarter Ended
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($ in millions)
|
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Q1'18
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Q2'18
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Total pull through adjusted volume
|
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$
|
4,862
|
|
|
$
|
5,440
|
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Funded volume
|
|
$
|
5,087
|
|
|
$
|
5,542
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Recapture percentage
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27
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%
|
|
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22
|
%
|
Purchase volume as a percentage of funded volume
|
|
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40
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%
|
|
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51
|
%
|
|
|
|
|
|
|
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|
Xome
Xome provides real estate solutions including property disposition,
asset management, title, close, valuation, and field services to
Nationstar and third parties. The Xome segment earned $10 million GAAP
pretax income or $13 million adjusted pretax income.
Both the Exchange and Services segments experienced sequential growth as
property sales and completed order volumes increased. The Exchange
business sold over 3,700 properties in the quarter, a 16% increase from
prior quarter. Third-party listings accounted for over 45% of total
property sales as the segment continues to attract third-party business
and referral listings. During the quarter, the Exchange business added
six new institutional clients. The Services business completed over
117,000 orders in the quarter, a 5% increase from prior quarter. The
field services business continues to capture property inspection and
preservation orders and is expected to be fully ramped by the end of the
year.
Nationstar is targeting Xome adjusted pretax income of $60 million for
the full year 2018.
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Quarter Ended
|
($ in millions)
|
|
Q1'18
|
|
Q2'18
|
Income before taxes (GAAP)
|
|
$
|
22
|
|
|
$
|
10
|
Adjustments
|
|
|
(8
|
)
|
|
|
3
|
Adjusted pretax income
|
|
$
|
14
|
|
|
$
|
13
|
|
|
|
|
|
|
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Quarter Ended
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|
Q1'18
|
|
|
Q2'18
|
|
Exchange property listings sold
|
|
3,202
|
|
|
3,720
|
|
Exchange property listings at period end
|
|
7,594
|
|
|
7,417
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|
Services orders completed
|
|
111,339
|
|
|
117,093
|
|
Percentage of revenue earned from third-party customers
|
|
27
|
%
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|
28
|
%
|
|
|
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|
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Conference Call Webcast and Investor
Presentation
The Company will host a conference call on July 17, 2018, at 9:00 A.M.
Eastern Time. The conference call may be accessed by dialing
855-874-2685, or 720-634-2923 internationally. Please use the
participant passcode 7668739 to access the conference call. A
simultaneous audio webcast of the conference call will be available in
the Investor Information section of www.nationstarholdings.com.
A replay will also be available by dialing 855-859-2056, or 404-537-3406
internationally. Please use the passcode 7668739 to access the replay.
The replay will be accessible through July 31, 2018.
Non-GAAP Financial Measures
The Company utilizes non-GAAP (or "adjusted") financial measures as the
measures provide additional information to assist investors in
understanding and assessing the Company's and our business segments'
ongoing performance and financial results, as well as assessing our
prospects for future performance. The adjusted financial measures
facilitate a meaningful analysis and allow more accurate comparisons of
our ongoing business operations because they exclude items that may not
be indicative of or are unrelated to the Company's and our business
segments' core operating performance, and are better measures for
assessing trends in our underlying businesses. These adjustments are
consistent with how management views our businesses. Management uses
these non-GAAP financial measures in making financial, operational and
planning decisions and evaluating the Company's and our business
segment's ongoing performance. Adjusted pre-tax income (loss) in the
servicing segment eliminates the effects of mark-to-market adjustments
which primarily reflects unrealized gains or losses based on the changes
in fair value measurements of MSRs and their related financing
liabilities for which a fair value accounting election was made. These
adjustments, which can be highly volatile and material due to changes in
credit markets, are not necessarily reflective of the gains and losses
that will ultimately be realized by the Company. Adjusted pre-tax income
(loss) also eliminates in each segment, as applicable, transition and
integration costs, gains (losses) on sales of fixed assets, certain
settlement costs that are not considered normal operational matters, and
other adjustments based on the facts and circumstances that would
provide investors a supplemental means for evaluating the Company's core
operating performance.
Forward Looking Statements
Any statements in this release that are not historical or current facts
are forward looking statements. These forward looking statements
include, but are not limited to, statements regarding estimates of
Servicing's profitability, growth and Originations and Xome adjusted
pre-tax income. Forward looking statements involve known and unknown
risks, uncertainties and other factors that may cause our actual
results, performance, or achievements to be materially different from
any future results, performance or achievements expressed or implied by
the forward looking statements. Results for any specified quarter are
not necessarily indicative of the results that may be expected for the
full year or any future period. Certain of these risks and uncertainties
are described in the "Business" and "Risk Factors" sections of our most
recent annual report and other required documents as filed with the SEC
which are available at the SEC's website at http://www.sec.gov.
Nationstar undertakes no obligation to publicly update or revise any
forward looking statement or any other financial information contained
herein, and the statements made in this press release are current as of
the date of this release only.
Financial Tables
|
|
|
|
|
|
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|
NATIONSTAR MORTGAGE HOLDINGS INC. AND SUBSIDIARIES
|
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
|
(millions of dollars, except for earnings per share data)
|
|
|
|
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|
|
|
|
|
|
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|
|
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|
Quarter Ended
|
|
|
March 31, 2018
|
|
June 30, 2018
|
Revenues:
|
|
|
|
|
|
|
|
|
Service related, net
|
|
$
|
312
|
|
|
$
|
298
|
|
Mark-to-market
|
|
|
152
|
|
|
|
19
|
|
Net gain on mortgage loans held for sale
|
|
|
124
|
|
|
|
127
|
|
Total revenues
|
|
|
588
|
|
|
|
444
|
|
|
|
|
|
|
|
|
|
|
Total expenses
|
|
|
364
|
|
|
|
339
|
|
|
|
|
|
|
|
|
|
|
Other income (expense):
|
|
|
|
|
|
|
|
|
Interest income
|
|
|
145
|
|
|
|
140
|
|
Interest expense
|
|
|
(171
|
)
|
|
|
(164
|
)
|
Other income (expenses)
|
|
|
8
|
|
|
|
(2
|
)
|
Total other income (expenses), net
|
|
|
(18
|
)
|
|
|
(26
|
)
|
Income before income tax expense
|
|
|
206
|
|
|
|
79
|
|
Income tax expense
|
|
|
46
|
|
|
|
21
|
|
Net income attributable to Nationstar
|
|
$
|
160
|
|
|
$
|
58
|
|
|
|
|
|
|
|
|
|
|
Earnings per share attributable to common stockholders:
|
|
|
|
|
|
|
|
|
Basic
|
|
$
|
1.63
|
|
|
$
|
0.59
|
|
Diluted
|
|
$
|
1.61
|
|
|
$
|
0.59
|
|
Weighted average shares of common stock outstanding (in thousands):
|
|
|
|
|
|
|
|
|
Basic
|
|
|
97,873
|
|
|
|
98,203
|
|
Diluted
|
|
|
99,111
|
|
|
|
99,130
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NATIONSTAR MORTGAGE HOLDINGS INC. AND SUBSIDIARIES
|
UNAUDITED CONSOLIDATED BALANCE SHEETS
|
(millions of dollars)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
|
March 31, 2018
|
|
June 30, 2018
|
Assets
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
187
|
|
$
|
185
|
Restricted cash
|
|
|
365
|
|
|
310
|
Mortgage servicing rights
|
|
|
3,194
|
|
|
3,356
|
Advances and other receivables, net
|
|
|
1,424
|
|
|
1,317
|
Reverse mortgage interests, net
|
|
|
10,225
|
|
|
9,477
|
Mortgage loans held for sale at fair value
|
|
|
1,589
|
|
|
1,635
|
Mortgage loans held for investment, net
|
|
|
136
|
|
|
132
|
Property and equipment, net
|
|
|
123
|
|
|
123
|
Derivative financial instruments at fair value
|
|
|
65
|
|
|
62
|
Other assets
|
|
|
556
|
|
|
593
|
Total assets
|
|
$
|
17,864
|
|
$
|
17,190
|
|
|
|
|
|
|
|
Liabilities and Stockholders' Equity
|
|
|
|
|
|
|
Unsecured senior notes, net
|
|
$
|
1,859
|
|
$
|
1,815
|
Advance facilities, net
|
|
|
562
|
|
|
516
|
Warehouse facilities, net
|
|
|
3,161
|
|
|
3,086
|
Payables and accrued liabilities
|
|
|
1,235
|
|
|
1,288
|
MSR related liabilities - nonrecourse at fair value
|
|
|
1,035
|
|
|
1,063
|
Mortgage servicing liabilities
|
|
|
30
|
|
|
27
|
Derivative financial instruments at fair value
|
|
|
9
|
|
|
9
|
Other nonrecourse debt, net
|
|
|
8,091
|
|
|
7,445
|
Total liabilities
|
|
|
15,982
|
|
|
15,249
|
Total stockholders' equity
|
|
|
1,882
|
|
|
1,941
|
Total liabilities and stockholders' equity
|
|
$
|
17,864
|
|
$
|
17,190
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED SEGMENT STATEMENT OF
|
OPERATIONS & EARNINGS RECONCILIATION
|
(millions of dollars, except for earnings per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter ended March 31, 2018
|
|
|
Servicing
|
|
Originations
|
|
Xome
|
|
Corporate and Other
|
|
Elim.
|
|
Consolidated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REVENUES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Service related, net
|
|
$
|
395
|
|
|
$
|
15
|
|
|
$
|
65
|
|
|
$
|
-
|
|
|
$
|
(11
|
)
|
|
$
|
464
|
|
Net gain on mortgage loans held for sale
|
|
|
-
|
|
|
|
113
|
|
|
|
-
|
|
|
|
-
|
|
|
|
11
|
|
|
|
124
|
|
Total revenues
|
|
|
395
|
|
|
|
128
|
|
|
|
65
|
|
|
|
-
|
|
|
|
-
|
|
|
|
588
|
|
Total expenses
|
|
|
182
|
|
|
|
109
|
|
|
|
52
|
|
|
|
21
|
|
|
|
-
|
|
|
|
364
|
|
Other income (expense):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income
|
|
|
126
|
|
|
|
15
|
|
|
|
-
|
|
|
|
4
|
|
|
|
-
|
|
|
|
145
|
|
Interest expense
|
|
|
(118
|
)
|
|
|
(15
|
)
|
|
|
-
|
|
|
|
(38
|
)
|
|
|
-
|
|
|
|
(171
|
)
|
Other expense
|
|
|
(1
|
)
|
|
|
-
|
|
|
|
9
|
|
|
|
-
|
|
|
|
-
|
|
|
|
8
|
|
Total other income (expense)
|
|
|
7
|
|
|
|
-
|
|
|
|
9
|
|
|
|
(34
|
)
|
|
|
-
|
|
|
|
(18
|
)
|
Pretax income (loss)
|
|
$
|
220
|
|
|
$
|
19
|
|
|
$
|
22
|
|
|
$
|
(55
|
)
|
|
$
|
-
|
|
|
$
|
206
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(46
|
)
|
Net income attributable to Nationstar
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
160
|
|
Earnings per share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
1.63
|
|
Diluted
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
1.61
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Earnings:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pretax income (loss)
|
|
$
|
220
|
|
|
$
|
19
|
|
|
$
|
22
|
|
|
$
|
(55
|
)
|
|
$
|
-
|
|
|
$
|
206
|
|
MTM
|
|
|
(152
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(152
|
)
|
Adjustments
|
|
|
-
|
|
|
|
5
|
|
|
|
(8
|
)
|
|
|
6
|
|
|
|
-
|
|
|
|
3
|
|
Adjusted pretax income (loss)
|
|
$
|
69
|
|
|
$
|
25
|
|
|
$
|
14
|
|
|
$
|
(49
|
)
|
|
$
|
-
|
|
|
$
|
58
|
|
Income tax expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(14
|
)
|
Adjusted earnings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
44
|
|
Adjusted diluted EPS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
0.44
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes: Items may not sum due to rounding
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED SEGMENT STATEMENT OF
|
OPERATIONS & EARNINGS RECONCILIATION
|
(millions of dollars, except for earnings per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter ended June 30, 2018
|
|
|
Servicing
|
|
Originations
|
|
Xome
|
|
Corporate and Other
|
|
Elim.
|
|
Consolidated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REVENUES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Service related, net
|
|
$
|
248
|
|
|
$
|
17
|
|
|
$
|
62
|
|
$
|
1
|
|
|
$
|
(11
|
)
|
|
$
|
317
|
|
Net gain on mortgage loans held for sale
|
|
|
-
|
|
|
|
116
|
|
|
|
-
|
|
|
-
|
|
|
|
11
|
|
|
|
127
|
|
Total revenues
|
|
|
248
|
|
|
|
133
|
|
|
$
|
62
|
|
|
1
|
|
|
|
-
|
|
|
|
444
|
|
Total expenses
|
|
|
166
|
|
|
|
102
|
|
|
|
52
|
|
|
19
|
|
|
|
-
|
|
|
|
339
|
|
Other income (expense):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income
|
|
|
121
|
|
|
|
17
|
|
|
|
-
|
|
|
2
|
|
|
|
-
|
|
|
|
140
|
|
Interest expense
|
|
|
(115
|
)
|
|
|
(16
|
)
|
|
|
-
|
|
|
(33
|
)
|
|
|
-
|
|
|
|
(164
|
)
|
Other expense
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
(2
|
)
|
|
|
-
|
|
|
|
(2
|
)
|
Total other income (expense)
|
|
|
6
|
|
|
|
1
|
|
|
|
-
|
|
|
(33
|
)
|
|
|
-
|
|
|
|
(26
|
)
|
Pretax income (loss)
|
|
$
|
88
|
|
|
$
|
32
|
|
|
$
|
10
|
|
$
|
(51
|
)
|
|
$
|
-
|
|
|
$
|
79
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(21
|
)
|
Net income attributable to Nationstar
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
58
|
|
Earnings per share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
0.59
|
|
Diluted
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
0.59
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Earnings:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pretax income (loss)
|
|
$
|
88
|
|
|
$
|
32
|
|
|
$
|
10
|
|
$
|
(51
|
)
|
|
$
|
-
|
|
|
$
|
79
|
|
MTM
|
|
|
(19
|
)
|
|
|
-
|
|
|
|
-
|
|
|
-
|
|
|
|
-
|
|
|
|
(19
|
)
|
Adjustments
|
|
|
3
|
|
|
|
1
|
|
|
|
3
|
|
|
2
|
|
|
|
-
|
|
|
|
9
|
|
Adjusted pretax income (loss)
|
|
$
|
72
|
|
|
$
|
33
|
|
|
$
|
13
|
|
$
|
(49
|
)
|
|
$
|
-
|
|
|
$
|
69
|
|
Income tax expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(17
|
)
|
Adjusted earnings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
52
|
|
Adjusted diluted EPS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
0.53
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes: Items may not sum due to rounding
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20180717005359/en/
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|