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Supplemental Guarantor Information (Tables) | 6 Months Ended
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Jun. 30, 2013
Supplemental Guarantor Information [Abstract] |
Consolidating Balance Sheet | CONDENSED CONSOLIDATING BALANCE SHEET JUNE 30, 2013 ($000’s omitted)
| Unconsolidated |  | Eliminating Entries |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |
ASSETS |  |  |  |  |  |  |  |  |
Cash and equivalents | $ | 191,387 |  |  | $ | 935,954 |  |  | $ | 85,327 |  |  | $ | — |  |  | $ | 1,212,668 |
Restricted cash | 50,324 |  |  | 4,737 |  |  | 11,382 |  |  | — |  |  | 66,443 |
House and land inventory | — |  |  | 4,179,223 |  |  | 3,846 |  |  | — |  |  | 4,183,069 |
Land held for sale | — |  |  | 89,765 |  |  | — |  |  | — |  |  | 89,765 |
Land, not owned, under option agreements | — |  |  | 33,751 |  |  | — |  |  | — |  |  | 33,751 |
Residential mortgage loans available- for-sale | — |  |  | — |  |  | 237,595 |  |  | — |  |  | 237,595 |
Investments in unconsolidated entities | 68 |  |  | 40,571 |  |  | 3,739 |  |  | — |  |  | 44,378 |
Other assets | 21,860 |  |  | 349,099 |  |  | 70,945 |  |  | — |  |  | 441,904 |
Intangible assets | — |  |  | 142,698 |  |  | — |  |  | — |  |  | 142,698 |
Investments in subsidiaries and intercompany accounts, net | 4,393,741 |  |  | 4,109,137 |  |  | 4,938,979 |  |  | (13,441,857 | ) |  | — |
| $ | 4,657,380 |  |  | $ | 9,884,935 |  |  | $ | 5,351,813 |  |  | $ | (13,441,857 | ) |  | $ | 6,452,271 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable, customer deposits, accrued and other liabilities | $ | 46,457 |  |  | $ | 1,458,845 |  |  | $ | 276,180 |  |  | $ | — |  |  | $ | 1,781,482 |
Income tax liabilities | 200,646 |  |  | — |  |  | — |  |  | — |  |  | 200,646 |
Financial Services debt | — |  |  | — |  |  | 59,866 |  |  | — |  |  | 59,866 |
Senior notes | 2,082,062 |  |  | — |  |  | — |  |  | — |  |  | 2,082,062 |
Total liabilities | 2,329,165 |  |  | 1,458,845 |  |  | 336,046 |  |  | — |  |  | 4,124,056 |
Total shareholders’ equity | 2,328,215 |  |  | 8,426,090 |  |  | 5,015,767 |  |  | (13,441,857 | ) |  | 2,328,215 |
| $ | 4,657,380 |  |  | $ | 9,884,935 |  |  | $ | 5,351,813 |  |  | $ | (13,441,857 | ) |  | $ | 6,452,271 |
CONDENSED CONSOLIDATING BALANCE SHEET DECEMBER 31, 2012 ($000’s omitted)
| Unconsolidated |  | Eliminating Entries |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |
ASSETS |  |  |  |  |  |  |  |  |
Cash and equivalents | $ | 146,168 |  |  | $ | 1,063,943 |  |  | $ | 194,649 |  |  | $ | — |  |  | $ | 1,404,760 |
Restricted cash | 54,546 |  |  | 3,365 |  |  | 14,039 |  |  | — |  |  | 71,950 |
House and land inventory | — |  |  | 4,210,201 |  |  | 3,845 |  |  | — |  |  | 4,214,046 |
Land held for sale | — |  |  | 91,104 |  |  | — |  |  | — |  |  | 91,104 |
Land, not owned, under option agreements | — |  |  | 31,066 |  |  | — |  |  | — |  |  | 31,066 |
Residential mortgage loans available- for-sale | — |  |  | — |  |  | 318,931 |  |  | — |  |  | 318,931 |
Investments in unconsolidated entities | 1,528 |  |  | 40,973 |  |  | 3,128 |  |  | — |  |  | 45,629 |
Other assets | 28,951 |  |  | 324,109 |  |  | 54,615 |  |  | — |  |  | 407,675 |
Intangible assets | — |  |  | 149,248 |  |  | — |  |  | — |  |  | 149,248 |
Investments in subsidiaries and intercompany accounts, net | 4,723,466 |  |  | 7,198,710 |  |  | 6,296,915 |  |  | (18,219,091 | ) |  | — |
| $ | 4,954,659 |  |  | $ | 13,112,719 |  |  | $ | 6,886,122 |  |  | $ | (18,219,091 | ) |  | $ | 6,734,409 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable, customer deposits, accrued and other liabilities | $ | 56,565 |  |  | $ | 1,343,653 |  |  | $ | 297,302 |  |  | $ | — |  |  | $ | 1,697,520 |
Income tax liabilities | 198,865 |  |  | — |  |  | — |  |  | — |  |  | 198,865 |
Financial Services debt | — |  |  | — |  |  | 138,795 |  |  | — |  |  | 138,795 |
Senior notes | 2,509,613 |  |  | — |  |  | — |  |  | — |  |  | 2,509,613 |
Total liabilities | 2,765,043 |  |  | 1,343,653 |  |  | 436,097 |  |  | — |  |  | 4,544,793 |
Total shareholders’ equity | 2,189,616 |  |  | 11,769,066 |  |  | 6,450,025 |  |  | (18,219,091 | ) |  | 2,189,616 |
| $ | 4,954,659 |  |  | $ | 13,112,719 |  |  | $ | 6,886,122 |  |  | $ | (18,219,091 | ) |  | $ | 6,734,409 |
Consolidating Statement of Operations and Comprehensive Income (Loss) | CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the three months ended June 30, 2013 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Revenues: |  |  |  |  |  |  |  |  |
Homebuilding |  |  |  |  |  |  |  |  |
Home sale revenues | $ | — |  |  | $ | 1,219,675 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,219,675 |
Land sale revenues | — |  |  | 20,385 |  |  | — |  |  | — |  |  | 20,385 |
| — |  |  | 1,240,060 |  |  | — |  |  | — |  |  | 1,240,060 |
Financial Services | — |  |  | 492 |  |  | 38,870 |  |  | — |  |  | 39,362 |
| — |  |  | 1,240,552 |  |  | 38,870 |  |  | — |  |  | 1,279,422 |
Homebuilding Cost of Revenues: |  |  |  |  |  |  |  |  |
Home sale cost of revenues | — |  |  | 990,818 |  |  | — |  |  | — |  |  | 990,818 |
Land sale cost of revenues | — |  |  | 20,710 |  |  | — |  |  | — |  |  | 20,710 |
| — |  |  | 1,011,528 |  |  | — |  |  | — |  |  | 1,011,528 |
Financial Services expenses | 208 |  |  | 80 |  |  | 22,747 |  |  | — |  |  | 23,035 |
Selling, general and administrative expenses | — |  |  | 149,975 |  |  | 556 |  |  | — |  |  | 150,531 |
Other expense (income), net | 23,057 |  |  | 33,118 |  |  | 1,164 |  |  | — |  |  | 57,339 |
Interest income | (88 | ) |  | (1,003 | ) |  | (21 | ) |  | — |  |  | (1,112 | )
Interest expense | 166 |  |  | — |  |  | — |  |  | — |  |  | 166 |
Intercompany interest | 415 |  |  | 1 |  |  | (416 | ) |  | — |  |  | — |
Equity in (earnings) loss of unconsolidated entities | — |  |  | (319 | ) |  | (76 | ) |  | — |  |  | (395 | )
Income (loss) before income taxes and equity in income (loss) of subsidiaries | (23,758 | ) |  | 47,172 |  |  | 14,916 |  |  | — |  |  | 38,330 |
Income tax expense (benefit) | (24 | ) |  | (3,572 | ) |  | 5,509 |  |  | — |  |  | 1,913 |
Income (loss) before equity in income (loss) of subsidiaries | (23,734 | ) |  | 50,744 |  |  | 9,407 |  |  | — |  |  | 36,417 |
Equity in income (loss) of subsidiaries | 60,151 |  |  | 10,555 |  |  | 26,502 |  |  | (97,208 | ) |  | — |
Net income (loss) | 36,417 |  |  | 61,299 |  |  | 35,909 |  |  | (97,208 | ) |  | 36,417 |
Other comprehensive income | 148 |  |  | — |  |  | — |  |  | — |  |  | 148 |
Comprehensive income | $ | 36,565 |  |  | $ | 61,299 |  |  | $ | 35,909 |  |  | $ | (97,208 | ) |  | $ | 36,565 |
CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the three months ended June 30, 2012 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Revenues: |  |  |  |  |  |  |  |  |
Homebuilding |  |  |  |  |  |  |  |  |
Home sale revenues | $ | — |  |  | $ | 1,024,405 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,024,405 |
Land sale revenues | — |  |  | 8,749 |  |  | — |  |  | — |  |  | 8,749 |
| — |  |  | 1,033,154 |  |  | — |  |  | — |  |  | 1,033,154 |
Financial Services | — |  |  | 457 |  |  | 35,794 |  |  | — |  |  | 36,251 |
| — |  |  | 1,033,611 |  |  | 35,794 |  |  | — |  |  | 1,069,405 |
Homebuilding Cost of Revenues: |  |  |  |  |  |  |  |  |
Home sale cost of revenues | — |  |  | 869,379 |  |  | — |  |  | — |  |  | 869,379 |
Land sale cost of revenues | — |  |  | 7,611 |  |  | — |  |  | — |  |  | 7,611 |
| — |  |  | 876,990 |  |  | — |  |  | — |  |  | 876,990 |
Financial Services expenses | 104 |  |  | 160 |  |  | 20,063 |  |  | — |  |  | 20,327 |
Selling, general and administrative expenses | — |  |  | 123,259 |  |  | 927 |  |  | — |  |  | 124,186 |
Other expense (income), net | — |  |  | 8,167 |  |  | 2,331 |  |  | — |  |  | 10,498 |
Interest income | (61 | ) |  | (1,081 | ) |  | (22 | ) |  | — |  |  | (1,164 | )
Interest expense | 198 |  |  | — |  |  | — |  |  | — |  |  | 198 |
Intercompany interest | 153,332 |  |  | (149,938 | ) |  | (3,394 | ) |  | — |  |  | — |
Equity in (earnings) loss of unconsolidated entities | — |  |  | (1,246 | ) |  | (310 | ) |  | — |  |  | (1,556 | )
Income (loss) before income taxes and equity in income (loss) of subsidiaries | (153,573 | ) |  | 177,300 |  |  | 16,199 |  |  | — |  |  | 39,926 |
Income tax expense (benefit) | (9,935 | ) |  | 1,550 |  |  | 5,875 |  |  | — |  |  | (2,510 | )
Income (loss) before equity in income (loss) of subsidiaries | (143,638 | ) |  | 175,750 |  |  | 10,324 |  |  | — |  |  | 42,436 |
Equity in income (loss) of subsidiaries | 186,074 |  |  | 10,254 |  |  | 95,463 |  |  | (291,791 | ) |  | — |
Net income (loss) | 42,436 |  |  | 186,004 |  |  | 105,787 |  |  | (291,791 | ) |  | 42,436 |
Other comprehensive income | 58 |  |  | — |  |  | — |  |  | — |  |  | 58 |
Comprehensive income (loss) | $ | 42,494 |  |  | $ | 186,004 |  |  | $ | 105,787 |  |  | $ | (291,791 | ) |  | $ | 42,494 |
CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the six months ended June 30, 2013 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Revenues: |  |  |  |  |  |  |  |  |
Homebuilding |  |  |  |  |  |  |  |  |
Home sale revenues | $ | — |  |  | $ | 2,319,427 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,319,427 |
Land sale revenues | — |  |  | 46,516 |  |  | — |  |  | — |  |  | 46,516 |
| — |  |  | 2,365,943 |  |  | — |  |  | — |  |  | 2,365,943 |
Financial Services | — |  |  | 1,111 |  |  | 75,124 |  |  | — |  |  | 76,235 |
| — |  |  | 2,367,054 |  |  | 75,124 |  |  | — |  |  | 2,442,178 |
Homebuilding Cost of Revenues: |  |  |  |  |  |  |  |  |
Home sale cost of revenues | — |  |  | 1,892,288 |  |  | — |  |  | — |  |  | 1,892,288 |
Land sale cost of revenues | — |  |  | 42,728 |  |  | — |  |  | — |  |  | 42,728 |
| — |  |  | 1,935,016 |  |  | — |  |  | — |  |  | 1,935,016 |
Financial Services expenses | 416 |  |  | 224 |  |  | 44,983 |  |  | — |  |  | 45,623 |
Selling, general and administrative expenses | — |  |  | 278,866 |  |  | 1,291 |  |  | — |  |  | 280,157 |
Other expense (income), net | 23,041 |  |  | 37,521 |  |  | 1,549 |  |  | — |  |  | 62,111 |
Interest income | (165 | ) |  | (2,058 | ) |  | (62 | ) |  | — |  |  | (2,285 | )
Interest expense | 373 |  |  | — |  |  | — |  |  | — |  |  | 373 |
Intercompany interest | 175,280 |  |  | (172,398 | ) |  | (2,882 | ) |  | — |  |  | — |
Equity in (earnings) loss of unconsolidated entities | 1,460 |  |  | (346 | ) |  | (611 | ) |  | — |  |  | 503 |
Income (loss) before income taxes and equity in income (loss) of subsidiaries | (200,405 | ) |  | 290,229 |  |  | 30,856 |  |  | — |  |  | 120,680 |
Income tax expense (benefit) | 129 |  |  | (7,966 | ) |  | 10,338 |  |  | — |  |  | 2,501 |
Income (loss) before equity in income (loss) of subsidiaries | (200,534 | ) |  | 298,195 |  |  | 20,518 |  |  | — |  |  | 118,179 |
Equity in income (loss) of subsidiaries | 318,713 |  |  | 21,976 |  |  | 201,461 |  |  | (542,150 | ) |  | — |
Net income (loss) | 118,179 |  |  | 320,171 |  |  | 221,979 |  |  | (542,150 | ) |  | 118,179 |
Other comprehensive income | 196 |  |  | — |  |  | — |  |  | — |  |  | 196 |
Comprehensive income | $ | 118,375 |  |  | $ | 320,171 |  |  | $ | 221,979 |  |  | $ | (542,150 | ) |  | $ | 118,375 |
CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the six months ended June 30, 2012 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Revenues: |  |  |  |  |  |  |  |  |
Homebuilding |  |  |  |  |  |  |  |  |
Home sale revenues | $ | — |  |  | $ | 1,838,191 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,838,191 |
Land sale revenues | — |  |  | 47,147 |  |  | — |  |  | — |  |  | 47,147 |
| — |  |  | 1,885,338 |  |  | — |  |  | — |  |  | 1,885,338 |
Financial Services | — |  |  | 830 |  |  | 64,273 |  |  | — |  |  | 65,103 |
| — |  |  | 1,886,168 |  |  | 64,273 |  |  | — |  |  | 1,950,441 |
Homebuilding Cost of Revenues: |  |  |  |  |  |  |  |  |
Home sale cost of revenues | — |  |  | 1,581,545 |  |  | — |  |  | — |  |  | 1,581,545 |
Land sale cost of revenues | — |  |  | 41,008 |  |  | — |  |  | — |  |  | 41,008 |
| — |  |  | 1,622,553 |  |  | — |  |  | — |  |  | 1,622,553 |
Financial Services expenses | 170 |  |  | 273 |  |  | 41,893 |  |  | — |  |  | 42,336 |
Selling, general and administrative expenses | — |  |  | 245,666 |  |  | 1,834 |  |  | — |  |  | 247,500 |
Other expense (income), net | (20 | ) |  | 14,459 |  |  | 2,678 |  |  | — |  |  | 17,117 |
Interest income | (123 | ) |  | (2,194 | ) |  | (46 | ) |  | — |  |  | (2,363 | )
Interest expense | 415 |  |  | — |  |  | — |  |  | — |  |  | 415 |
Intercompany interest | 262,466 |  |  | (255,830 | ) |  | (6,636 | ) |  | — |  |  | — |
Equity in (earnings) loss of unconsolidated entities | (2 | ) |  | (3,162 | ) |  | (388 | ) |  | — |  |  | (3,552 | )
Income (loss) before income taxes and equity in income (loss) of subsidiaries | (262,906 | ) |  | 264,403 |  |  | 24,938 |  |  | — |  |  | 26,435 |
Income tax expense (benefit) | 19,256 |  |  | (4,194 | ) |  | (19,397 | ) |  | — |  |  | (4,335 | )
Income (loss) before equity in income (loss) of subsidiaries | (282,162 | ) |  | 268,597 |  |  | 44,335 |  |  | — |  |  | 30,770 |
Equity in income (loss) of subsidiaries | 312,932 |  |  | 44,736 |  |  | 145,594 |  |  | (503,262 | ) |  | — |
Net income (loss) | 30,770 |  |  | 313,333 |  |  | 189,929 |  |  | (503,262 | ) |  | 30,770 |
Other comprehensive income | 115 |  |  | — |  |  | — |  |  | — |  |  | 115 |
Comprehensive income | $ | 30,885 |  |  | $ | 313,333 |  |  | $ | 189,929 |  |  | $ | (503,262 | ) |  | $ | 30,885 |
Consolidating Statement Of Cash Flows | CONSOLIDATING STATEMENT OF CASH FLOWS For the six months ended June 30, 2013 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Net cash provided by (used in) operating activities | $ | (167,506 | ) |  | $ | 429,101 |  |  | $ | 73,470 |  |  | $ | — |  |  | $ | 335,065 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Distributions from unconsolidated entities | — |  |  | 200 |  |  | — |  |  | — |  |  | 200 |
Investments in unconsolidated entities | — |  |  | (807 | ) |  | — |  |  | — |  |  | (807 | )
Net change in loans held for investment | — |  |  | — |  |  | 18 |  |  | — |  |  | 18 |
Change in restricted cash related to letters of credit | 4,222 |  |  | — |  |  | — |  |  | — |  |  | 4,222 |
Proceeds from the sale of property and equipment | — |  |  | 9 |  |  | — |  |  | — |  |  | 9 |
Capital expenditures | — |  |  | (10,029 | ) |  | (988 | ) |  | — |  |  | (11,017 | )
Net cash provided by (used in) investing activities | 4,222 |  |  | (10,627 | ) |  | (970 | ) |  | — |  |  | (7,375 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Financial Services borrowings (repayments) | — |  |  | — |  |  | (78,929 | ) |  | — |  |  | (78,929 | )
Other borrowings (repayments) | (454,335 | ) |  | 1,385 |  |  | — |  |  | — |  |  | (452,950 | )
Stock option exercises | 18,544 |  |  | — |  |  | — |  |  | — |  |  | 18,544 |
Stock repurchases | (6,447 | ) |  | — |  |  | — |  |  | — |  |  | (6,447 | )
Intercompany activities, net | 650,741 |  |  | (547,848 | ) |  | (102,893 | ) |  | — |  |  | — |
Net cash provided by (used in) financing activities | 208,503 |  |  | (546,463 | ) |  | (181,822 | ) |  | — |  |  | (519,782 | )
Net increase (decrease) in cash and equivalents | 45,219 |  |  | (127,989 | ) |  | (109,322 | ) |  | — |  |  | (192,092 | )
Cash and equivalents at beginning of period | 146,168 |  |  | 1,063,943 |  |  | 194,649 |  |  | — |  |  | 1,404,760 |
Cash and equivalents at end of period | $ | 191,387 |  |  | $ | 935,954 |  |  | $ | 85,327 |  |  | $ | — |  |  | $ | 1,212,668 |
CONSOLIDATING STATEMENT OF CASH FLOWS For the six months ended June 30, 2012 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Net cash provided by (used in) operating activities | $ | (272,489 | ) |  | $ | 420,574 |  |  | $ | 63,455 |  |  | $ | — |  |  | $ | 211,540 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Distributions from unconsolidated entities | — |  |  | 2,696 |  |  | — |  |  | — |  |  | 2,696 |
Investments in unconsolidated entities | — |  |  | (858 | ) |  | — |  |  | — |  |  | (858 | )
Net change in loans held for investment | — |  |  | — |  |  | 627 |  |  | — |  |  | 627 |
Change in restricted cash related to letters of credit | 16,280 |  |  | — |  |  | — |  |  | — |  |  | 16,280 |
Proceeds from the sale of property and equipment | — |  |  | 4,627 |  |  | — |  |  | — |  |  | 4,627 |
Capital expenditures | — |  |  | (5,451 | ) |  | (1,546 | ) |  | — |  |  | (6,997 | )
Net cash provided by (used in) investing activities | 16,280 |  |  | 1,014 |  |  | (919 | ) |  | — |  |  | 16,375 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Other borrowings (repayments) | — |  |  | 400 |  |  | — |  |  | — |  |  | 400 |
Stock repurchases | (908 | ) |  | — |  |  | — |  |  | — |  |  | (908 | )
Intercompany activities, net | 271,521 |  |  | (200,543 | ) |  | (70,978 | ) |  | — |  |  | — |
Net cash provided by (used in) financing activities | 270,613 |  |  | (200,143 | ) |  | (70,978 | ) |  | — |  |  | (508 | )
Net increase (decrease) in cash and equivalents | 14,404 |  |  | 221,445 |  |  | (8,442 | ) |  | — |  |  | 227,407 |
Cash and equivalents at beginning of period | 119,287 |  |  | 875,561 |  |  | 88,223 |  |  | — |  |  | 1,083,071 |
Cash and equivalents at end of period | $ | 133,691 |  |  | $ | 1,097,006 |  |  | $ | 79,781 |  |  | $ | — |  |  | $ | 1,310,478 |

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